Advertisement
Singapore markets closed

  • Straits Times Index

    3,293.13
    +20.41 (+0.62%)
     

  • S&P 500

    5,070.55
    +59.95 (+1.20%)
     

  • Dow

    38,503.69
    +263.71 (+0.69%)
     

  • Nasdaq

    15,696.64
    +245.33 (+1.59%)
     

  • Bitcoin USD

    66,295.86
    +146.38 (+0.22%)
     

  • CMC Crypto 200

    1,432.20
    +8.10 (+0.57%)
     

  • FTSE 100

    8,089.68
    +44.87 (+0.56%)
     

  • Gold

    2,329.80
    -12.30 (-0.53%)
     

  • Crude Oil

    83.04
    -0.32 (-0.38%)
     

  • 10-Yr Bond

    4.5980
    -0.0250 (-0.54%)
     

  • Nikkei

    38,460.08
    +907.92 (+2.42%)
     

  • Hang Seng

    17,201.27
    +372.34 (+2.21%)
     

  • FTSE Bursa Malaysia

    1,571.48
    +9.84 (+0.63%)
     

  • Jakarta Composite Index

    7,174.53
    +63.72 (+0.90%)
     

  • PSE Index

    6,572.75
    +65.95 (+1.01%)
     

Energy Transfer LP (ET) Outpaces Stock Market Gains: What You Should Know

Zacks Equity Research
·3-min read

Energy Transfer LP (ET) closed at $8.22 in the latest trading session, marking a +1.61% move from the prior day. This move outpaced the S&P 500's daily gain of 0.9%. Meanwhile, the Dow gained 0.56%, and the Nasdaq, a tech-heavy index, added 1.13%.

Coming into today, shares of the energy-related services provider had gained 46.03% in the past month. In that same time, the Oils-Energy sector gained 10.21%, while the S&P 500 gained 14.3%.

Investors will be hoping for strength from ET as it approaches its next earnings release, which is expected to be May 11, 2020. The company is expected to report EPS of $0.32, down 13.51% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.02 billion, up 6.86% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $1.14 per share and revenue of $55.75 billion, which would represent changes of -16.18% and +2.83%, respectively, from the prior year.

ADVERTISEMENT

Investors might also notice recent changes to analyst estimates for ET. 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.

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. Over the past month, the Zacks Consensus EPS estimate has moved 10.76% lower. ET is currently sporting a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that ET has a Forward P/E ratio of 7.12 right now. This valuation marks a discount compared to its industry's average Forward P/E of 8.04.

The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 172, which puts it in the bottom 33% 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.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Energy Transfer LP (ET) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.