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Energy Transfer LP (ET) closed the most recent trading day at $10.72, moving -0.92% from the previous trading session. This change lagged the S&P 500's 1.46% gain on the day. At the same time, the Dow added 1%, and the tech-heavy Nasdaq lost 0.17%.
Prior to today's trading, shares of the energy-related services provider had lost 7.76% over the past month. This has lagged the Oils-Energy sector's gain of 2.86% and the S&P 500's loss of 6.94% in that time.
Energy Transfer LP will be looking to display strength as it nears its next earnings release. On that day, Energy Transfer LP is projected to report earnings of $0.27 per share, which would represent year-over-year growth of 35%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $22.08 billion, up 46.2% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.25 per share and revenue of $87.74 billion, which would represent changes of -33.86% and +30.15%, respectively, from the prior year.
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.
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. Within the past 30 days, our consensus EPS projection has moved 4.15% lower. Energy Transfer LP is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Energy Transfer LP is holding a Forward P/E ratio of 8.68. This represents a discount compared to its industry's average Forward P/E of 10.98.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 34, which puts it in the top 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.