Posted 12/29/2023, 10:45:22 PM
Energy Transfer Stock Outperforms Despite Lower Earnings Forecast
- Energy Transfer LP (ET) stock closed higher despite market dip, outpacing S&P 500
- ET heading into earnings, forecasted to report EPS of $0.28, down 17.65% year-over-year
- Revenue forecast at $23.61 billion, up 15.18% from last year
- Zacks consensus estimates call for full year EPS of $1.04, down 26.24% and revenue of $81.67 billion, down 9.13%
- ET currently has Zacks Rank of #3 (Hold) and trades at premium to industry average Forward P/E