Enterprise Products Partners (EPD – Free Report) closed at $34 in the latest trading session, marking a +0.59% move from the prior day. The stock’s change was less than the S&P 500’s daily gain of 1.08%. Meanwhile, the Dow experienced a rise of 0.92%, and the technology-dominated Nasdaq saw an increase of 1.41%.
Shares of the provider of midstream energy services have appreciated by 0.24% over the course of the past month, outperforming the Oils-Energy sector’s loss of 2.69% and the S&P 500’s loss of 8.26%.
Analysts and investors alike will be keeping a close eye on the performance of Enterprise Products Partners in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.70, showcasing a 6.06% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $14.28 billion, indicating a 3.26% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.91 per share and revenue of $58.1 billion, indicating changes of +8.18% and +3.34%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Enterprise Products Partners. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts’ confidence in the company’s business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there’s been a 1.4% rise in the Zacks Consensus EPS estimate. Enterprise Products Partners is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Enterprise Products Partners is holding a Forward P/E ratio of 11.63. For comparison, its industry has an average Forward P/E of 13.02, which means Enterprise Products Partners is trading at a discount to the group.
We can also see that EPD currently has a PEG ratio of 1.38. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company’s expected earnings growth trajectory. The average PEG ratio for the Oil and Gas – Production Pipeline – MLB industry stood at 1.16 at the close of the market yesterday.
The Oil and Gas – Production Pipeline – MLB industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 8, placing it within the top 4% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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