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

Energy Transfer LP (ET) closed the most recent trading day at $10.14, moving +0.4% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.3%. At the same time, the Dow lost 0.2%, and the tech-heavy Nasdaq lost 0.1%.

Coming into today, shares of the energy-related services provider had lost 13.31% in the past month. In that same time, the Oils-Energy sector lost 10.56%, while the S&P 500 lost 0.62%.

Investors will be hoping for strength from Energy Transfer LP as it approaches its next earnings release. In that report, analysts expect Energy Transfer LP to post earnings of $0.27 per share. This would mark year-over-year growth of 35%. Meanwhile, our latest consensus estimate is calling for revenue of $22.08 billion, up 46.2% from the prior-year quarter.

ET's full-year Zacks Consensus Estimates are calling for earnings of $1.25 per share and revenue of $87.74 billion. These results would represent year-over-year changes of -33.86% and +30.15%, respectively.

It is also important to note the recent changes to analyst estimates for Energy Transfer LP. 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.

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 4.15% lower. Energy Transfer LP is currently sporting a Zacks Rank of #3 (Hold).

Looking at its valuation, Energy Transfer LP is holding a Forward P/E ratio of 8.11. For comparison, its industry has an average Forward P/E of 10.26, which means Energy Transfer LP is trading at a discount to the group.

The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 83, putting it in the top 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.

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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