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Energy Transfer LP (ET) Stock Moves -1.03%: What You Should Know

In the latest trading session, Energy Transfer LP (ET) closed at $10.56, marking a -1.03% move from the previous day. This change was narrower than the S&P 500’s daily loss of 1.31%.

Prior to today’s trading, shares of the energy-related services provider had gained 6.49% over the past month. This has outpaced the Oils-Energy sector’s gain of 0.67% and the S&P 500’s gain of 1.56% in that time.

Wall Street will be looking for positivity from ET as it approaches its next earnings report date. The company is expected to report EPS of $0.24, up 84.62% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.03 billion, up 104.85% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.13 per share and revenue of $61.91 billion. These totals would mark changes of +987.5% and +58.92%, respectively, from last year.

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. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 17.28% higher. ET currently has a Zacks Rank of #1 (Strong Buy).

Looking at its valuation, ET is holding a Forward P/E ratio of 5.02. For comparison, its industry has an average Forward P/E of 11.06, which means ET is trading at a discount to the group.

The Oil and Gas – Production Pipeline – MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 122, which puts it in the top 49% 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.

To follow ET in the coming trading sessions, be sure to utilize

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2021-06-18 16:50:09

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