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Energy Transfer LP (ET) Gains As Market Dips: What You Should Know

Zacks Equity Research
·3 min read

Energy Transfer LP (ET) closed the most recent trading day at $12.03, moving +0.17% from the previous trading session. The stock outpaced the S&P 500's daily loss of 1.13%. Meanwhile, the Dow lost 0.56%, and the Nasdaq, a tech-heavy index, added 0.03%.

Coming into today, shares of the energy-related services provider had gained 3.36% in the past month. In that same time, the Oils-Energy sector gained 2.38%, while the S&P 500 lost 7.59%.

Wall Street will be looking for positivity from Energy Transfer LP as it approaches its next earnings report date. In that report, analysts expect Energy Transfer LP to post earnings of $0.29 per share. This would mark year-over-year growth of 45%. Our most recent consensus estimate is calling for quarterly revenue of $24.47 billion, up 46.83% from the year-ago period.

ET's full-year Zacks Consensus Estimates are calling for earnings of $1.38 per share and revenue of $96.01 billion. These results would represent year-over-year changes of -26.98% and +42.41%, respectively.

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It is also important to note the recent changes to analyst estimates for Energy Transfer LP. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Energy Transfer LP is currently a Zacks Rank #3 (Hold).

In terms of valuation, Energy Transfer LP is currently trading at a Forward P/E ratio of 8.7. For comparison, its industry has an average Forward P/E of 11.65, which means Energy Transfer LP is trading at a discount to the group.

The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 99, which puts it in the top 40% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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Zacks Investment Research