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Energy Transfer LP (ET) Stock Moves -1.15%: What You Should Know

Zacks Equity Research

Energy Transfer LP (ET) closed at $6.01 in the latest trading session, marking a -1.15% move from the prior day. This move was narrower than the S&P 500's daily loss of 2.97%. Elsewhere, the Dow lost 2.57%, while the tech-heavy Nasdaq lost 3.47%.

Prior to today's trading, shares of the energy-related services provider had gained 26.93% over the past month. This has outpaced the Oils-Energy sector's gain of 26.58% and the S&P 500's gain of 22.85% in that time.

ET will be looking to display strength as it nears its next earnings release, which is expected to be May 11, 2020. On that day, ET is projected to report earnings of $0.31 per share, which would represent a year-over-year decline of 16.22%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.02 billion, up 6.84% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $1.20 per share and revenue of $56.70 billion, which would represent changes of -11.76% and +4.58%, respectively, from the prior year.

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It is also important to note the recent changes to analyst estimates for ET. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 7.86% lower. ET is currently sporting a Zacks Rank of #3 (Hold).

Investors should also note ET's current valuation metrics, including its Forward P/E ratio of 5.08. This valuation marks a discount compared to its industry's average Forward P/E of 6.5.

The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 159, putting it in the bottom 38% 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.

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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Zacks Investment Research