Wall Street brokerages predict that Energy Transfer LP Unit (NYSE:ET) will report $14.75 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Energy Transfer LP Unit’s earnings. The lowest sales estimate is $14.10 billion and the highest is $15.49 billion. Energy Transfer LP Unit posted sales of $14.12 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.5%. The business is scheduled to report its next earnings report on Wednesday, August 14th.
According to Zacks, analysts expect that Energy Transfer LP Unit will report full year sales of $57.58 billion for the current fiscal year, with estimates ranging from $56.35 billion to $59.40 billion. For the next fiscal year, analysts anticipate that the business will report sales of $59.44 billion, with estimates ranging from $58.13 billion to $60.47 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Energy Transfer LP Unit.
Energy Transfer LP Unit (NYSE:ET) last issued its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.01. The firm had revenue of $13.12 billion during the quarter, compared to analysts’ expectations of $14.39 billion. Energy Transfer LP Unit had a net margin of 4.03% and a return on equity of 7.61%. Energy Transfer LP Unit’s quarterly revenue was up 10.4% compared to the same quarter last year.
A number of equities research analysts recently issued reports on the stock. Raymond James reiterated an “average” rating and issued a $19.00 price objective on shares of Energy Transfer LP Unit in a report on Friday, June 21st. Zacks Investment Research cut shares of Energy Transfer LP Unit from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. Citigroup upped their price objective on shares of Energy Transfer LP Unit from $16.00 to $19.50 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Finally, ValuEngine cut shares of Energy Transfer LP Unit from a “hold” rating to a “sell” rating in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $19.08.
NYSE:ET traded up $0.06 during trading hours on Tuesday, reaching $14.08. The company’s stock had a trading volume of 12,220,590 shares, compared to its average volume of 11,969,143. The company has a market cap of $36.88 billion, a P/E ratio of 12.24 and a beta of 1.65. Energy Transfer LP Unit has a one year low of $11.68 and a one year high of $19.19. The business has a 50-day moving average of $14.38. The company has a current ratio of 1.06, a quick ratio of 0.81 and a debt-to-equity ratio of 1.52.
In other news, Director Michael K. Grimm purchased 3,888 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was bought at an average cost of $14.14 per share, for a total transaction of $54,976.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas P. Mason sold 75,000 shares of the company’s stock in a transaction dated 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. 3.28% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in ET. Focused Wealth Management Inc acquired a new position in shares of Energy Transfer LP Unit during the first quarter valued at about $25,000. Meridian Wealth Management LLC acquired a new position in shares of Energy Transfer LP Unit during the first quarter valued at about $28,000. Global Retirement Partners LLC acquired a new position in shares of Energy Transfer LP Unit during the first quarter valued at about $32,000. Global Wealth Management Investment Advisory Inc. acquired a new position in shares of Energy Transfer LP Unit during the first quarter valued at about $34,000. Finally, Shamrock Asset Management LLC acquired a new position in shares of Energy Transfer LP Unit during the first quarter valued at about $36,000. Institutional investors own 56.97% 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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