Enterprise Products Partners (EPD) closed at $37.29 in the latest trading session, marking a -1.35% move from the prior day. This move lagged the S&P 500's daily gain of 0.81%. Meanwhile, the Dow experienced a rise of 0.27%, and the technology-dominated Nasdaq saw an increase of 1.3%.
Shares of the provider of midstream energy services have depreciated by 0.18% over the course of the past month, outperforming the Oils-Energy sector's loss of 3.61%, and lagging the S&P 500's gain of 1.13%.
Market participants will be closely following the financial results of Enterprise Products Partners in its upcoming release. It is anticipated that the company will report an EPS of $0.74, marking a 12.12% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $13.49 billion, up 18.73% from the year-ago period.
EPD's full-year Zacks Consensus Estimates are calling for earnings of $3.01 per share and revenue of $56.02 billion. These results would represent year-over-year changes of +13.16% and +6.51%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Enterprise Products Partners. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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. The Zacks Consensus EPS estimate has moved 0.94% higher within the past month. Enterprise Products Partners currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, Enterprise Products Partners is currently exchanging hands at a Forward P/E ratio of 12.57. This signifies a discount in comparison to the average Forward P/E of 14.12 for its industry.
We can additionally observe that EPD currently boasts a PEG ratio of 1.33. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Oil and Gas - Production Pipeline - MLB industry stood at 1.33 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 79, placing it within the top 33% of over 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Enterprise Products Partners L.P. (EPD): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).