Enterprise Products Partners (EPD) closed at $37.53 in the latest trading session, marking a -1.31% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.62% for the day. On the other hand, the Dow registered a gain of 0.58%, and the technology-centric Nasdaq increased by 0.83%.
Prior to today's trading, shares of the provider of midstream energy services had gained 2.23% lagged the Oils-Energy sector's gain of 4.75% and outpaced the S&P 500's gain of 0.8%.
Market participants will be closely following the financial results of Enterprise Products Partners in its upcoming release. The company's earnings per share (EPS) are projected to be $0.69, reflecting a 7.81% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $13.18 billion, indicating a 14.5% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.82 per share and a revenue of $52.51 billion, indicating changes of +6.02% and -0.17%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Enterprise Products Partners. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.05% upward. At present, Enterprise Products Partners boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Enterprise Products Partners is presently trading at a Forward P/E ratio of 13.51. This denotes a premium relative to the industry average Forward P/E of 13.16.
Investors should also note that EPD has a PEG ratio of 1.52 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 1.52 at yesterday's closing price.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 211, which puts it in the bottom 14% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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).