The most recent trading session ended with Energy Transfer LP (ET) standing at $19.64, reflecting a -0.36% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily gain of 1.26%. Meanwhile, the Dow experienced a rise of 0.8%, and the technology-dominated Nasdaq saw an increase of 1.77%.
The the stock of energy-related services provider has risen by 3.36% in the past month, leading the Oils-Energy sector's loss of 5.1% and the S&P 500's loss of 2.82%.
Market participants will be closely following the financial results of Energy Transfer LP in its upcoming release. The company is forecasted to report an EPS of $0.36, showcasing a 2.7% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $24.29 billion, indicating a 18.31% growth compared to the corresponding quarter of the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Energy Transfer LP. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 0.27% rise in the Zacks Consensus EPS estimate. Energy Transfer LP currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Energy Transfer LP has a Forward P/E ratio of 13.37 right now. This denotes no noticeable deviation relative to the industry's average Forward P/E of 13.37.
Investors should also note that ET has a PEG ratio of 0.58 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. The Oil and Gas - Production Pipeline - MLB industry had an average PEG ratio of 1.44 as trading concluded yesterday.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 27, which puts it in the top 11% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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