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The most recent trading session ended with Enterprise Products Partners (EPD) standing at $30.99, reflecting a +1.51% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a gain of 1.09% for the day. Meanwhile, the Dow gained 1.18%, and the Nasdaq, a tech-heavy index, added 1.03%.
Heading into today, shares of the provider of midstream energy services had lost 5.63% over the past month, outpacing the Oils-Energy sector's loss of 9.46% and lagging the S&P 500's loss of 0.71% in that time.
Investors will be eagerly watching for the performance of Enterprise Products Partners in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.70, reflecting a 2.78% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $14.43 billion, indicating a 1.29% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.69 per share and revenue of $56.4 billion, indicating changes of +6.32% and +13.44%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Enterprise Products Partners. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
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.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Enterprise Products Partners presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Enterprise Products Partners is currently exchanging hands at a Forward P/E ratio of 11.35. This signifies a discount in comparison to the average Forward P/E of 13.66 for its industry.
It's also important to note that EPD currently trades at a PEG ratio of 1.57. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 1.37 based on yesterday's closing prices.