Energy Transfer LP (ET) Rises As Market Takes a Dip: Key Facts

Energy Transfer LP (ET) ended the recent trading session at $18.96, demonstrating a +1.61% change from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 0.28%. At the same time, the Dow lost 0.44%, and the tech-heavy Nasdaq lost 0.28%.

Shares of the energy-related services provider have depreciated by 1.06% over the course of the past month, underperforming the Oils-Energy sector's gain of 8.87%, and outperforming the S&P 500's loss of 3.59%.

Analysts and investors alike will be keeping a close eye on the performance of Energy Transfer LP in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.38, showcasing a 5.56% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $29.97 billion, indicating a 42.59% increase compared to the same quarter of the previous year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.5 per share and a revenue of $120.25 billion, representing changes of +23.97% and +40.59%, respectively, from the prior year.

Investors should also pay attention to any latest changes in analyst estimates for Energy Transfer LP. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the 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, 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, there's been a 3.65% fall in the Zacks Consensus EPS estimate. Energy Transfer LP is currently sporting a Zacks Rank of #3 (Hold).

Investors should also note Energy Transfer LP's current valuation metrics, including its Forward P/E ratio of 12.46. Its industry sports an average Forward P/E of 13.23, so one might conclude that Energy Transfer LP is trading at a discount comparatively.

We can additionally observe that ET currently boasts a PEG ratio of 1.03. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 1.48 based on yesterday's closing prices.

The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 200, finds itself in the bottom 19% echelons 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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This article originally published on Zacks Investment Research (zacks.com).

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