Energy Transfer LP (ET) closed the latest trading day at $18.73, indicating a +0.75% change from the previous session's end. The stock exceeded the S&P 500, which registered a gain of 0.38% for the day. On the other hand, the Dow registered a loss of 0.03%, and the technology-centric Nasdaq increased by 0.87%.
Shares of the energy-related services provider have depreciated by 2.31% over the course of the past month, underperforming the Oils-Energy sector's gain of 2.26% and outperforming the S&P 500's loss of 5.59%.
Analysts and investors alike will be keeping a close eye on the performance of Energy Transfer LP in its upcoming earnings disclosure. In that report, analysts expect Energy Transfer LP to post earnings of $0.32 per share. This would mark no growth from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $23.45 billion, indicating an 8.43% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.40 per share and a revenue of $95.78 billion, indicating changes of +9.38% and +15.85%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Energy Transfer LP. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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 has moved 3.84% lower within the past month. Energy Transfer LP is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Energy Transfer LP is currently being traded at a Forward P/E ratio of 13.26. This represents a premium compared to its industry's average Forward P/E of 13.24.
Investors should also note that ET has a PEG ratio of 0.62 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. ET's industry had an average PEG ratio of 1.17 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 12, which puts it in the top 5% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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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This article originally published on Zacks Investment Research (zacks.com).
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