Energy Transfer LP Unit (ET) Receives $19.63 Average Target Price from Analysts
Energy Transfer LP Unit (NYSE:ET) has been assigned an average rating of “Buy” from the nine analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $19.63.
Several research analysts recently issued reports on ET shares. Evercore ISI started coverage on Energy Transfer LP Unit in a research report on Tuesday, February 5th. They set an “outperform” rating on the stock. Zacks Investment Research lowered Energy Transfer LP Unit from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. ValuEngine raised Energy Transfer LP Unit from a “strong sell” rating to a “sell” rating in a research report on Monday, February 4th. TheStreet raised Energy Transfer LP Unit from a “c+” rating to a “b” rating in a research report on Thursday, February 21st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 target price on shares of Energy Transfer LP Unit in a research report on Thursday, February 21st.
Several hedge funds have recently made changes to their positions in the company. Tortoise Capital Advisors L.L.C. acquired a new position in shares of Energy Transfer LP Unit in the first quarter valued at about $1,417,810,000. OppenheimerFunds Inc. acquired a new position in shares of Energy Transfer LP Unit in the first quarter valued at about $938,384,000. Alps Advisors Inc. acquired a new position in shares of Energy Transfer LP Unit in the first quarter valued at about $928,701,000. Morgan Stanley purchased a new stake in shares of Energy Transfer LP Unit in the first quarter worth about $791,900,000. Finally, Kayne Anderson Capital Advisors LP purchased a new stake in shares of Energy Transfer LP Unit in the first quarter worth about $660,951,000. 56.50% of the stock is currently owned by institutional investors and hedge funds.
Energy Transfer LP Unit (NYSE:ET) last announced its earnings results on Wednesday, May 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.01. Energy Transfer LP Unit had a return on equity of 7.61% and a net margin of 4.03%. The company had revenue of $13.12 billion for the quarter, compared to analyst estimates of $14.39 billion. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. On average, analysts expect that Energy Transfer LP Unit will post 1.36 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Tuesday, May 7th will be issued a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 8.24%. The ex-dividend date is Monday, May 6th. Energy Transfer LP Unit’s dividend payout ratio is presently 106.09%.
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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