Citigroup Lowers Energy Transfer LP Unit (NYSE:ET) Price Target to $18.00

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Energy Transfer LP Unit (NYSE:ET) had its price objective reduced by research analysts at Citigroup from $20.00 to $18.00 in a research report issued on Tuesday. The firm presently has a “buy” rating on the pipeline company’s stock. Citigroup‘s target price indicates a potential upside of 58.17% from the company’s current price.

A number of other research analysts also recently commented on ET. 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. TheStreet downgraded Energy Transfer LP Unit from a “b-” rating to a “c+” rating in a research note on Monday, October 21st. ValuEngine raised Energy Transfer LP Unit from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Bank of America boosted 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. Finally, Wells Fargo & Co boosted their price target on Energy Transfer LP Unit from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. Energy Transfer LP Unit has a consensus rating of “Buy” and an average price target of $19.40.

Shares of ET traded up $0.05 during midday trading on Tuesday, reaching $11.38. 25,478,442 shares of the stock were exchanged, compared to its average volume of 11,653,120. Energy Transfer LP Unit has a twelve month low of $10.84 and a twelve month high of $15.98. The company has a quick ratio of 0.75, a current ratio of 1.00 and a debt-to-equity ratio of 1.49. The company has a market cap of $30.53 billion, a P/E ratio of 9.90 and a beta of 1.53. The stock’s 50 day simple moving average is $12.46 and its 200 day simple moving average is $13.75.

Energy Transfer LP Unit (NYSE:ET) last posted 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). The company had revenue of $13.50 billion during the quarter, compared to analyst estimates of $14.54 billion. Energy Transfer LP Unit had a net margin of 5.94% and a return on equity of 10.93%. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period last year, the firm earned $0.32 EPS. As a group, analysts predict that Energy Transfer LP Unit will post 1.41 earnings per share for the current year.

In other Energy Transfer LP Unit news, CFO Thomas E. Long bought 18,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were purchased at an average price of $11.15 per share, for a total transaction of $200,700.00. Following the completion of the transaction, the chief financial officer now directly owns 517,698 shares in the company, valued at approximately $5,772,332.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.28% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ET. Neville Rodie & Shaw Inc. bought a new stake in shares of Energy Transfer LP Unit during the second quarter worth about $616,000. Buckingham Asset Management LLC grew its holdings in shares of Energy Transfer LP Unit by 118.2% during the second quarter. Buckingham Asset Management LLC now owns 63,991 shares of the pipeline company’s stock worth $901,000 after purchasing an additional 34,659 shares during the last quarter. Carroll Financial Associates Inc. bought a new stake in shares of Energy Transfer LP Unit during the second quarter worth about $245,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Energy Transfer LP Unit during the second quarter worth about $518,000. Finally, Comerica Bank grew its holdings in shares of Energy Transfer LP Unit by 13.9% during the third quarter. Comerica Bank now owns 20,099,563 shares of the pipeline company’s stock worth $250,039,000 after purchasing an additional 2,456,002 shares during the last quarter. Hedge funds and other institutional investors own 54.67% of the company’s stock.

Energy Transfer LP Unit Company Profile

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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Analyst Recommendations for Energy Transfer LP Unit (NYSE:ET)

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