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The most recent trading session ended with Enterprise Products Partners (EPD) standing at $29.52, reflecting a -0.57% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily gain of 0.03%. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 0.2%.
Heading into today, shares of the provider of midstream energy services had gained 0.85% over the past month, outpacing the Oils-Energy sector's loss of 3.35% and lagging the S&P 500's gain of 1.54% in that time.
The upcoming earnings release of Enterprise Products Partners will be of great interest to investors. The company is expected to report EPS of $0.69, up 15% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.78 billion, up 14.89% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.72 per share and a revenue of $56.37 billion, signifying shifts of +7.51% and +13.38%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
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. Over the past month, there's been a 0.22% fall in the Zacks Consensus EPS estimate. Enterprise Products Partners presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Enterprise Products Partners is currently trading at a Forward P/E ratio of 10.93. This indicates a discount in contrast to its industry's Forward P/E of 12.76.
One should further note that EPD currently holds a PEG ratio of 1.52. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 1.52 based on yesterday's closing prices.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 29, positioning it in the top 12% of all 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.
Zacks Investment Research
Enterprise Products Partners (EPD) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.
Over the past month, shares of this provider of midstream energy services have returned +0.9%, compared to the Zacks S&P 500 composite's +1.5% change. During this period, the Zacks Oil and Gas - Production Pipeline - MLB industry, which Enterprise Products falls in, has gained 2.6%. The key question now is: What could be the stock's future direction?
While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.
Earnings Estimate Revisions
Rather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.
We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For the current quarter, Enterprise Products is expected to post earnings of $0.69 per share, indicating a change of +15% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.
The consensus earnings estimate of $2.72 for the current fiscal year indicates a year-over-year change of +7.5%. This estimate has changed -0.2% over the last 30 days.
For the next fiscal year, the consensus earnings estimate of $2.84 indicates a change of +4.7% from what Enterprise Products is expected to report a year ago. Over the past month, the estimate has changed -0.4%.
With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Enterprise Products.
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Projected Revenue Growth
While earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.
For Enterprise Products, the consensus sales estimate for the current quarter of $13.78 billion indicates a year-over-year change of +14.9%. For the current and next fiscal years, $56.37 billion and $59.81 billion estimates indicate +13.4% and +6.1% changes, respectively.
Last Reported Results and Surprise History
Enterprise Products reported revenues of $13.48 billion in the last reported quarter, representing a year-over-year change of +26.6%. EPS of $0.64 for the same period compares with $0.57 a year ago.
Compared to the Zacks Consensus Estimate of $13.81 billion, the reported revenues represent a surprise of -2.36%. The EPS surprise was -1.54%.
Over the last four quarters, Enterprise Products surpassed consensus EPS estimates two times. The company topped consensus revenue estimates two times over this period.
Valuation
Without considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.
Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Enterprise Products is graded B on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
Conclusion
The facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Enterprise Products. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
Zacks Investment Research
Market volatility cratered last week as stocks bounced back from one of their worst weeks of the year. With the Fed rates decision looming, we could see volatility pick up this week.
That could mean it’s a good time to look for stock with a low implied volatility percentile.
A lot of stock are showing a low implied volatility percentile.
Pfizer for example, is showing implied volatility of 21% compared to a twelve-month low of 18% and a twelve-month high of 34%.
Implied volatility percentile is one of the most common metrics used when trading options.
IV Percentile is a measure of implied volatility where current implied volatility is compared to the range of implied volatilities in this past.
This comparison is made on the same stock.
For example, Palantir’s IV percentile takes the current implied volatility and compares it to the past implied volatilities Palantir has had.
This is then made into a percentage ranging from 0-100%.
A percentage of zero would depict a stock is currently at the lowest level of implied volatility it has been during the lookback period.
In contrast, an IV percentile of 100% illustrates that the stock is trading at its highest level of implied volatility.
To get a true picture of stocks with a low implied volatility percentile, we can use the Stock Screener.
Using the Stock Screener to Find Low Volatility Stocks
Using the Stock Screener, we can set the following filters to find stocks with low implied volatility percentile.
This screener gives us the following stocks ranked from lowest IV Percentile to highest:
Fidelity National Information Services
Here is the full list:
How To Use IV Percentile
As a general rule, when implied volatility percentile is low, it’s better to focus on long volatility trades such as debit spreads, long straddles and long strangles.
It also makes sense to compare a stock’s current IV Percentile to the market in general. If all stocks are showing low IV Percentile, then there might not be much of an edge in buying volatility on a specific stock. But, if general market implied volatility is high, that could be a good time to buy cheap volatility in some of the names above.
It’s also a good idea to keep an eye on the upcoming earnings dates as stocks can make big moves following earnings announcements.
Please remember that options are risky, and investors can lose 100% of their investment. This article is for education purposes only and not a trade recommendation. Remember to always do your own due diligence and consult your financial advisor before making any investment decisions.
On the date of publication, Gavin McMaster had a position in: BABA . All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
Energy companies on the U.S. Gulf Coast suffered minimal damage after Hurricane Francine made landfall on Wednesday as a Category 2 hurricane and weakened as it made its way inland on Thursday.
Shell plc inspected its manufacturing sites in Geismar and Norco, Louisiana, to ensure the. integrity of its equipment, systems and processes.
“At this early stage, there does not appear to be serious damage from wind, rain or storm surge at the facilities,” the company said on Thursday.
“As always, the safety of our people, the environment and our assets are Shell's top priority.”
Entergy Corp said it had 10,790 customer outages in the southern area of its Mississippi territory, and that outages are expected to fluctuate throughout Thursday as the storm moved through its service area.
“We have assembled a team of over 1,500 linemen, vegetation workers, damage assessors and support personnel to work with our Entergy teams in the restoration process,” the company said.
Read Also: Hurricane Disrupts UPS Deliveries In Southern US: Details
“We stand ready as Francine continues to impact our service area and are responding by assessing damage and restoring service to our customers where it is safe to do so.”
Pipeline operator Enterprise Products Partners LP on Thursday said its assets in south Louisiana did not sustain any noteworthy damage as a result of the storm, but it did say that some customers lost power, Reuters reported.
“The main issue at present is a loss of commercial power at locations in the track of the storm. Temporary generators are being deployed where possible and Enterprise is working with electric service providers to prioritize their restoration efforts,” the company said.
The hurricane weakened Thursday as it headed inland, allowing emergency crews in Lousiana to begin clearing roads while utility workers started restoring electricity, the Associated Press reported.
At the height of the storm, 450,000 people in Louisiana were without power, according to the state’s Public Service Commission. Many outages were caused by falling debris.
Hurricane Francine dumped up to six inches of rain in parts of Mississippi, Arkansas, Tennessee and Georgia and up to 10 inches in some areas of Alabama and Florida.
Price Action: Energy companies with facilities on the U.S. Gulf Coast trended upward on Thursday.
Generac Holdings Inc. , a manufacturer of generators for homes and businesses, declined 1.76% to $140.68 on Thursday.
Read Now:
Photo: Courtesy NOAA
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