Energy Transfer LP (ET) is a Top-Ranked Momentum Stock: Should You Buy?

Core Insights - Zacks Premium offers various tools for investors to enhance their stock market engagement and confidence [1] - The Zacks Style Scores provide a framework for evaluating stocks based on value, growth, and momentum [2] Zacks Style Scores Overview - Stocks are rated from A to F based on their value, growth, and momentum characteristics, with A being the highest score [3] - The Style Scores are categorized into four types: Value Score, Growth Score, Momentum Score, and VGM Score [3][4][5][6] Value Score - Focuses on identifying undervalued stocks using financial ratios such as P/E, PEG, Price/Sales, and Price/Cash Flow [3] Growth Score - Concentrates on a company's financial health and future growth potential by analyzing projected and historical earnings, sales, and cash flow [4] Momentum Score - Aims to capitalize on price trends by assessing short-term price changes and earnings estimate revisions [5] VGM Score - Combines all three Style Scores to provide a comprehensive evaluation of stocks based on value, growth, and momentum [6] Zacks Rank Integration - The Zacks Rank utilizes earnings estimate revisions to assist in portfolio building, with 1 (Strong Buy) stocks achieving an average annual return of +25.41% since 1988 [7][8] - Investors are encouraged to select stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B for optimal returns [9] Company Spotlight: Energy Transfer LP - Energy Transfer is a major midstream energy company in North America, operating nearly 130,000 miles of pipelines across 44 states [11] - Currently rated 3 (Hold) with a VGM Score of A, Energy Transfer has a Momentum Style Score of B and has seen a 3.2% increase in shares over the past four weeks [12] - Recent earnings estimates for fiscal 2024 have been revised upward, with the Zacks Consensus Estimate now at $1.37 per share, and an average earnings surprise of 3.4% [12]