Energy Transfer LP (ET) Gains As Market Dips: What You Should Know

Energy Transfer LP (ET) ended the recent trading session at $19.22, demonstrating a +1.75% change from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 1.44%. Elsewhere, the Dow lost 0.09%, while the tech-heavy Nasdaq lost 2.22%. The energy-related services provider's shares have seen a decrease of 5.88% over the last month, surpassing the Oils-Energy sector's loss of 7.14% and falling behind the S&P 500's gain of 0.08%.Market participants will be closely following the financial results of Energy Transfer LP in its upcoming release. It is anticipated that the company will report an EPS of $0.37, marking a 15.63% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $30.75 billion, showing a 59.78% escalation compared to the year-ago quarter. Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.43 per share and revenue of $121.19 billion, indicating changes of +18.18% and +41.69%, respectively, compared to the previous year. Any recent changes to analyst estimates for Energy Transfer LP should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 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 last 30 days, the Zacks Consensus EPS estimate has moved 3.92% higher. Currently, Energy Transfer LP is carrying 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 13.26 right now. For comparison, its industry has an average Forward P/E of 13.26, which means Energy Transfer LP is trading at no noticeable deviation to the group. It's also important to note that ET currently trades at a PEG ratio of 1.09. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Oil and Gas - Production Pipeline - MLB industry currently had an average PEG ratio of 1.3 as of yesterday's close. The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 104, positioning it in the top 43% 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. Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks