According to Zacks, “Energy Transfer LP owns and operates diversified portfolios of energy assets primarily in the United States. The company is a publicly traded limited partnership with core operations which include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids and refined product transportation and terminalling assets; NGL fractionation and various acquisition and marketing assets. Energy Transfer LP, formerly known as Energy Transfer Equity L.P., is based in Dallas, United States. “
Several other analysts also recently issued reports on ET. Morgan Stanley dropped their price target on Energy Transfer LP Unit from $8.00 to $6.00 and set an equal weight rating on the stock in a research note on Wednesday, July 15th. Evercore ISI started coverage on Energy Transfer LP Unit in a research report on Monday, June 15th. They issued a hold rating and a $10.00 target price on the stock. ValuEngine raised Energy Transfer LP Unit from a strong sell rating to a sell rating in a research report on Tuesday, May 12th. UBS Group lowered their price objective on shares of Energy Transfer LP Unit from $16.00 to $15.00 and set a buy rating on the stock in a report on Friday, April 3rd. Finally, Wells Fargo & Co lowered shares of Energy Transfer LP Unit from an overweight rating to an equal weight rating and set a $8.00 price objective on the stock. in a research report on Wednesday, July 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Energy Transfer LP Unit currently has a consensus rating of Hold and a consensus price target of $10.88.
Shares of ET stock opened at $6.55 on Wednesday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.66 and a current ratio of 0.83. Energy Transfer LP Unit has a 52 week low of $3.75 and a 52 week high of $14.57. The company’s 50 day moving average price is $7.02 and its two-hundred day moving average price is $8.52. The company has a market capitalization of $17.54 billion, a P/E ratio of 5.17 and a beta of 2.67.
Energy Transfer LP Unit (NYSE:ET) last issued its quarterly earnings data on Monday, May 11th. The pipeline company reported ($0.32) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.64). The company had revenue of $11.60 billion for the quarter, compared to the consensus estimate of $14.40 billion. Energy Transfer LP Unit had a return on equity of 10.30% and a net margin of 3.54%. The firm’s revenue was down 11.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.33 EPS. Analysts forecast that Energy Transfer LP Unit will post 1.13 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th will be paid a dividend of $0.305 per share. The ex-dividend date is Thursday, August 6th. This represents a $1.22 annualized dividend and a dividend yield of 18.63%. Energy Transfer LP Unit’s dividend payout ratio is presently 84.14%.
Large investors have recently modified their holdings of the stock. 1776 Wealth LLC grew its holdings in Energy Transfer LP Unit by 61.5% during the first quarter. 1776 Wealth LLC now owns 5,443 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 2,073 shares during the period. Bartlett & Co. LLC bought a new position in shares of Energy Transfer LP Unit during the 1st quarter worth approximately $28,000. Citizens Financial Group Inc RI acquired a new position in shares of Energy Transfer LP Unit during the 1st quarter worth approximately $28,000. Creative Financial Designs Inc. ADV bought a new stake in Energy Transfer LP Unit in the 2nd quarter valued at $29,000. Finally, Parallel Advisors LLC raised its stake in Energy Transfer LP Unit by 238.5% in the 1st quarter. Parallel Advisors LLC now owns 7,810 shares of the pipeline company’s stock valued at $35,000 after acquiring an additional 5,503 shares during the period. Institutional investors and hedge funds own 46.95% of the company’s stock.
About Energy Transfer LP Unit
Energy Transfer LP provides energy-related services. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and 12,500 miles of interstate natural gas pipelines. It sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.
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