Enterprise Products Partners (EPD) closed at $26.30 in the latest trading session, marking a +0.31% move from the prior day. The stock lagged the S&P 500's daily gain of 0.62%. Elsewhere, the Dow gained 0.5%, while the tech-heavy Nasdaq lost 5.66%.
Prior to today's trading, shares of the provider of midstream energy services had gained 1.83% over the past month. This has lagged the Oils-Energy sector's gain of 2.66% and the S&P 500's gain of 3.44% in that time.
Wall Street will be looking for positivity from Enterprise Products Partners as it approaches its next earnings report date. In that report, analysts expect Enterprise Products Partners to post earnings of $0.62 per share. This would mark a year-over-year decline of 3.13%. Meanwhile, our latest consensus estimate is calling for revenue of $13.35 billion, down 16.89% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.60 per share and revenue of $54.93 billion, which would represent changes of +3.17% and -5.59%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Enterprise Products Partners. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.5% higher. Enterprise Products Partners currently has a Zacks Rank of #2 (Buy).
Digging into valuation, Enterprise Products Partners currently has a Forward P/E ratio of 10.1. Its industry sports an average Forward P/E of 11.94, so we one might conclude that Enterprise Products Partners is trading at a discount comparatively.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 220, putting it in the bottom 13% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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