Yahoo Finance Energy Transfer LP (ET) Rises Yet Lags Behind Market: Some Facts Worth Knowing
Energy Transfer LP (ET) closed the most recent trading day at $15.98, moving +0.13% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.32%. On the other hand, the Dow registered a gain of 0.38%, and the technology-centric Nasdaq increased by 0.35%.
The the stock of energy-related services provider has risen by 1.46% in the past month, lagging the Oils-Energy sector's gain of 4.43% and overreaching the S&P 500's loss of 2%.
Market participants will be closely following the financial results of Energy Transfer LP in its upcoming release. The company plans to announce its earnings on May 8, 2024. The company's upcoming EPS is projected at $0.36, signifying a 12.5% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $23.84 billion, up 25.51% from the year-ago period.
ET's full-year Zacks Consensus Estimates are calling for earnings of $1.57 per share and revenue of $97.49 billion. These results would represent year-over-year changes of +44.04% and +24.06%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Energy Transfer LP. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 9.16% higher. Energy Transfer LP presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, Energy Transfer LP is holding a Forward P/E ratio of 10.18. This expresses a discount compared to the average Forward P/E of 12.44 of its industry.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 174, placing it within the bottom 31% of over 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Energy Transfer LP (ET) : Free Stock Analysis Report
