Posted 1/4/2024, 10:45:21 PM
Energy Transfer LP Stock Underperforms as Q4 Earnings Expected to Decline
- Energy Transfer LP (ET) stock fell 1.07% on latest trading day, underperforming the S&P 500's 0.34% decline
- ET is predicted to post Q4 EPS of $0.28, a 17.65% year-over-year decline
- Revenue estimate for Q4 is $23.61 billion, a 15.18% increase over last year
- Positive estimate revisions are a good sign for ET’s business outlook and correlated with stock prices
- ET has a Zacks Rank of #3 (Hold) and is trading at a Forward P/E of 12.09, a discount to industry average of 12.13