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Energy Transfer LP (ET) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research
·2 min read

Energy Transfer LP (ET) closed at $9.32 in the latest trading session, marking a -1.27% move from the prior day. This move lagged the S&P 500's daily loss of 0.46%.

Coming into today, shares of the energy-related services provider had lost 1.05% in the past month. In that same time, the Oils-Energy sector lost 0.85%, while the S&P 500 gained 1.93%.

Wall Street will be looking for positivity from ET as it approaches its next earnings report date. The company is expected to report EPS of $0.26, down 13.33% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $14.95 billion, up 50.16% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $1.98 per share and revenue of $61.68 billion, which would represent changes of +925% and +58.35%, respectively, from the prior year.

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Any recent changes to analyst estimates for ET should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.82% lower within the past month. ET currently has a Zacks Rank of #3 (Hold).

In terms of valuation, ET is currently trading at a Forward P/E ratio of 4.77. This represents a discount compared to its industry's average Forward P/E of 9.4.

The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 171, which puts it in the bottom 33% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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