Zacks Investment Research upgraded shares of Energy Transfer LP Unit (NYSE:ET) from a sell rating to a hold rating in a report published on Wednesday, Zacks.com reports.
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. “
Other research analysts have also recently issued reports about the company. Evercore ISI set a $18.00 price target on Energy Transfer LP Unit and gave the company a buy rating in a research note on Wednesday, August 7th. ValuEngine upgraded Energy Transfer LP Unit from a strong sell rating to a sell rating in a research note on Wednesday, October 2nd. Bank of America increased their price target on Energy Transfer LP Unit from $23.00 to $24.00 and gave the company a buy rating in a research note on Wednesday, September 18th. Raymond James reiterated an average rating and issued a $19.00 price target on shares of Energy Transfer LP Unit in a research note on Friday, September 6th. Finally, Citigroup set a $20.00 price target on Energy Transfer LP Unit and gave the company a buy rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. Energy Transfer LP Unit presently has an average rating of Buy and a consensus target price of $19.60.
Shares of ET traded up $0.11 during trading hours on Wednesday, reaching $12.22. The stock had a trading volume of 19,153,593 shares, compared to its average volume of 11,097,246. Energy Transfer LP Unit has a 12 month low of $11.68 and a 12 month high of $15.98. The stock has a market capitalization of $33.21 billion, a PE ratio of 10.63 and a beta of 1.53. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.83 and a current ratio of 1.12. The company’s 50-day moving average is $12.78 and its two-hundred day moving average is $13.92.
Energy Transfer LP Unit (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.05). Energy Transfer LP Unit had a net margin of 4.99% and a return on equity of 9.10%. The firm had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $14.54 billion. During the same quarter in the previous year, the company posted $0.32 earnings per share. The firm’s revenue was down 7.0% on a year-over-year basis. Equities analysts anticipate that Energy Transfer LP Unit will post 1.41 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th will be given a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a yield of 9.98%. The ex-dividend date of this dividend is Monday, November 4th. Energy Transfer LP Unit’s dividend payout ratio is currently 106.09%.
A number of large investors have recently made changes to their positions in ET. OLD Second National Bank of Aurora bought a new position in Energy Transfer LP Unit during the 2nd quarter worth $27,000. First Personal Financial Services bought a new position in Energy Transfer LP Unit during the 2nd quarter worth $27,000. Rocky Mountain Advisers LLC bought a new position in Energy Transfer LP Unit during the 2nd quarter worth $28,000. Pathstone Family Office LLC acquired a new stake in Energy Transfer LP Unit during the 2nd quarter worth about $28,000. Finally, First Interstate Bank grew its holdings in Energy Transfer LP Unit by 607.6% during the 3rd quarter. First Interstate Bank now owns 2,236 shares of the pipeline company’s stock worth $29,000 after acquiring an additional 1,920 shares during the period. 55.42% of the stock is owned by institutional investors and hedge funds.
About Energy Transfer LP Unit
Energy Transfer LP provides energy-related services in the United States and China. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and approximately 12,200 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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