Why the Market Dipped But Enterprise Products Partners (EPD) Gained Today

Enterprise Products Partners (EPD) closed the most recent trading day at $31.72, moving +1.31% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.07%. Elsewhere, the Dow lost 0.37%, while the tech-heavy Nasdaq added 0.03%.

Coming into today, shares of the provider of midstream energy services had lost 1.29% in the past month. In that same time, the Oils-Energy sector gained 3.17%, while the S&P 500 gained 3.94%.

Market participants will be closely following the financial results of Enterprise Products Partners in its upcoming release. The company is forecasted to report an EPS of $0.65, showcasing a 1.56% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $14.55 billion, indicating a 7.88% growth compared to the corresponding quarter of the prior year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.84 per share and a revenue of $57.3 billion, representing changes of +5.58% and +1.92%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for Enterprise Products Partners. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.49% downward. Enterprise Products Partners is currently sporting a Zacks Rank of #4 (Sell).

Valuation is also important, so investors should note that Enterprise Products Partners has a Forward P/E ratio of 11.02 right now. This valuation marks a discount compared to its industry average Forward P/E of 12.34.

It is also worth noting that EPD currently has a PEG ratio of 1.3. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 1.15 based on yesterday's closing prices.

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 201, placing it within the bottom 19% of over 250 industries.

The Zacks Industry Rank gauges the strength of our individual 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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This article originally published on Zacks Investment Research (zacks.com).

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