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Energy Transfer Partners LP (NYSE:ETP)
Shiller P/E Ratio
8.10 (As of Today)

As of today, Energy Transfer Partners LP's current share price is $20.34. Energy Transfer Partners LP's E10 for the quarter that ended in Sep. 2015 was $2.51. Energy Transfer Partners LP's Shiller P/E Ratio for today is 8.10.

ETP' s Shiller P/E Ratio Range Over the Past 10 Years
Min: 7.9   Max: 41.05
Current: 8.11

7.9
41.05

During the past 13 years, Energy Transfer Partners LP's highest Shiller P/E Ratio was 41.05. The lowest was 7.90. And the median was 20.08.

ETP's Shiller P/E Ratio is ranked higher than
88% of the 73 Companies
in the Global Oil & Gas Midstream industry.

( Industry Median: 16.99 vs. ETP: 8.11 )

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

Energy Transfer Partners LP's adjusted earnings per share data for the three months ended in Sep. 2015 was $0.100. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $2.51 for the trailing ten years ended in Sep. 2015.


Definition

For the Shiller P/E, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller P/E is also called PE10.

The Shiller P/E was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

Energy Transfer Partners LP's Shiller P/E Ratio for today is calculated as

Shiller P/E Ratio=Share Price/E10
=20.34/2.51
=8.10

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

Energy Transfer Partners LP's E10 for the fiscal year that ended in Dec14 is calculated as:

For example, Energy Transfer Partners LP's adjusted earnings per share data for the three months ended in Sep. 2015 was:

Adj_EPS=Earnigns per Share/CPI of Sep. 2015 (Change)*Current CPI (Sep. 2015)
=0.1/237.945*237.945
=0.100

Current CPI (Sep. 2015) = 237.945.

Energy Transfer Partners LP Quarterly Data

201306201309201312201403201406201409201412201503201506201509
per share eps 0.5300.550-1.9290.7600.9200.440-0.256-0.1700.6700.100
CPI 233.504234.149233.049236.293238.343238.031234.812236.119238.638237.945
Adj_EPS 0.5400.559-1.9700.7650.9180.440-0.259-0.1710.6680.100
201012201103201106201109201112201203201206201209201212201303
per share eps 0.6600.7100.190-0.1900.4244.3500.000-0.3300.6380.630
CPI 219.179223.467225.722226.889225.672229.392229.478231.407229.601232.773
Adj_EPS 0.7170.7560.200-0.1990.4474.5120.000-0.3390.6610.644
200806200809200812200903200906200909200912201003201006201009
per share eps 0.6000.9400.4521.3700.380-0.1000.9180.740-0.2600.050
CPI 218.815218.783210.228212.709215.693215.969215.949217.631217.965218.439
Adj_EPS 0.6521.0220.5121.5330.419-0.1101.0120.809-0.2840.054
200511200602200605200608200611200702200705200708200711200803
per share eps 0.7601.3600.6700.3000.1501.3300.7100.9960.8201.340
CPI 197.600198.700202.500203.900201.500203.499207.949207.917210.177213.528
Adj_EPS 0.9151.6290.7870.3500.1771.5550.8121.1400.9281.493

Add all the adjusted EPS together and divide 10 will get our E10.


Explanation

Compared with the regular P/E ratio, which works poorly for cyclical businesses, the Shiller P/E smoothed out the fluctuations of profit margins during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Shiller P/E should give similar results to regular P/E.

Compared with the P/S ratio, the Shiller P/E makes the comparison between different industries more meaningful.


Be Aware

The Shiller P/E assumes that over the long term, businesses and profitability revert to their means. If a company’s business model does not work in the future compared with the past, the Shiller P/E and P/S ratio will give false valuations.


Related Terms

P/E Ratio, P/B Ratio, P/S Ratio, Price-to-Free-Cash-Flow ratio, E10


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

Energy Transfer Partners LP Annual Data

Aug05Aug06Aug07Dec08Dec09Dec10Dec11Dec12Dec13Dec14
ShillerPE 0.0033.0729.2716.0118.8821.0717.8213.7421.0424.11

Energy Transfer Partners LP Quarterly Data

Jun13Sep13Dec13Mar14Jun14Sep14Dec14Mar15Jun15Sep15
ShillerPE 16.2017.8821.0420.1421.0122.9824.1121.5020.5016.38
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