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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. “
A number of other brokerages also recently issued reports on ET. Bank of America increased their price target on shares of Energy Transfer LP Unit from $23.00 to $24.00 and gave the stock a buy rating in a report on Wednesday, September 18th. Evercore ISI set a $18.00 price objective on shares of Energy Transfer LP Unit and gave the company a buy rating in a report on Wednesday, August 7th. Citigroup set a $20.00 price objective on shares of Energy Transfer LP Unit and gave the company a buy rating in a report on Monday, August 12th. ValuEngine raised shares of Energy Transfer LP Unit from a strong sell rating to a sell rating in a report on Wednesday, October 2nd. Finally, Raymond James reaffirmed an average rating and set a $19.00 price objective on shares of Energy Transfer LP Unit in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $19.60.
NYSE ET traded up $0.11 during mid-day trading on Wednesday, reaching $12.22. 19,153,593 shares of the stock were exchanged, compared to its average volume of 11,097,246. The business’s 50 day moving average is $12.78 and its 200-day moving average is $13.92. Energy Transfer LP Unit has a 1 year low of $11.68 and a 1 year high of $15.98. The company has a market capitalization of $33.21 billion, a P/E 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.
Energy Transfer LP Unit (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.05). Energy Transfer LP Unit had a return on equity of 9.10% and a net margin of 4.99%. The firm had revenue of $13.50 billion for the quarter, compared to analysts’ expectations of $14.54 billion. During the same period last year, the company posted $0.32 earnings per share. The business’s quarterly revenue was down 7.0% on a year-over-year basis. Equities analysts predict that Energy Transfer LP Unit will post 1.41 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th will be paid a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 9.98%. The ex-dividend date is Monday, November 4th. Energy Transfer LP Unit’s dividend payout ratio is currently 106.09%.
Several large investors have recently bought and sold shares of the company. Westside Investment Management Inc. purchased a new position in shares of Energy Transfer LP Unit in the second quarter worth about $1,981,000. Frontier Wealth Management LLC lifted its stake in shares of Energy Transfer LP Unit by 4.5% in the second quarter. Frontier Wealth Management LLC now owns 19,209 shares of the pipeline company’s stock worth $270,000 after buying an additional 825 shares in the last quarter. Cullen Frost Bankers Inc. lifted its stake in shares of Energy Transfer LP Unit by 0.3% in the second quarter. Cullen Frost Bankers Inc. now owns 261,315 shares of the pipeline company’s stock worth $3,679,000 after buying an additional 886 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its stake in shares of Energy Transfer LP Unit by 3.4% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 29,502 shares of the pipeline company’s stock worth $415,000 after buying an additional 960 shares in the last quarter. Finally, GAM Holding AG lifted its stake in shares of Energy Transfer LP Unit by 8.8% in the second quarter. GAM Holding AG now owns 11,904 shares of the pipeline company’s stock worth $168,000 after buying an additional 960 shares in the last quarter. 55.42% of the stock is currently owned by hedge funds and other institutional investors.
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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