Energy Transfer LP Unit (NYSE:ET) has been given a $20.00 target price by investment analysts at Citigroup in a research note issued to investors on Monday, TipRanks reports. The brokerage currently has a “buy” rating on the pipeline company’s stock. Citigroup‘s target price points to a potential upside of 52.85% from the stock’s previous close.
Several other research analysts have also recently commented on ET. Raymond James reaffirmed an “average” rating and set a $19.00 target price on shares of Energy Transfer LP Unit in a report on Friday, June 21st. Piper Jaffray Companies started coverage on shares of Energy Transfer LP Unit in a report on Wednesday, July 17th. They set an “overweight” rating and a $22.00 target price on the stock. ValuEngine raised shares of Energy Transfer LP Unit from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 17th. Zacks Investment Research cut shares of Energy Transfer LP Unit from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Finally, Wells Fargo & Co raised their target price on shares of Energy Transfer LP Unit from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Energy Transfer LP Unit presently has an average rating of “Buy” and a consensus price target of $19.67.
ET stock traded down $0.42 during mid-day trading on Monday, hitting $13.09. 13,975,171 shares of the company were exchanged, compared to its average volume of 10,680,557. The business has a 50 day simple moving average of $14.41. The company has a quick ratio of 0.81, a current ratio of 1.06 and a debt-to-equity ratio of 1.52. The firm has a market cap of $35.05 billion, a PE ratio of 11.38 and a beta of 1.54. Energy Transfer LP Unit has a 1-year low of $11.68 and a 1-year high of $18.38.
Energy Transfer LP Unit (NYSE:ET) last announced its earnings results on Wednesday, August 7th. The pipeline company reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.03). Energy Transfer LP Unit had a return on equity of 9.18% and a net margin of 4.99%. The business had revenue of $13.88 billion for the quarter, compared to the consensus estimate of $14.49 billion. The firm’s revenue was down 1.7% compared to the same quarter last year. Sell-side analysts predict that Energy Transfer LP Unit will post 1.42 earnings per share for the current year.
In related news, Director Michael K. Grimm bought 3,888 shares of the business’s stock in a transaction on Friday, June 14th. The shares were purchased at an average price of $14.14 per share, for a total transaction of $54,976.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas P. Mason sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $13.97, for a total transaction of $1,047,750.00. The disclosure for this sale can be found here. Company insiders own 3.28% of the company’s stock.
A number of institutional investors have recently modified their holdings of ET. Tortoise Capital Advisors L.L.C. acquired a new stake in Energy Transfer LP Unit in the first quarter valued at approximately $1,417,810,000. Invesco Ltd. boosted its position in Energy Transfer LP Unit by 20,211.7% in the second quarter. Invesco Ltd. now owns 62,395,665 shares of the pipeline company’s stock valued at $878,531,000 after buying an additional 62,088,474 shares in the last quarter. OppenheimerFunds Inc. acquired a new stake in Energy Transfer LP Unit in the first quarter valued at approximately $938,384,000. Alps Advisors Inc. acquired a new stake in Energy Transfer LP Unit in the first quarter valued at approximately $928,701,000. Finally, Bank of Montreal Can acquired a new stake in Energy Transfer LP Unit in the second quarter valued at approximately $653,846,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.
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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