Energy Transfer LP Unit (NYSE:ET) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Energy Transfer LP Unit (NYSE:ET) have received an average recommendation of “Buy” from the nine research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $19.50.
A number of equities analysts have recently weighed in on ET shares. Raymond James set a $29.00 target price on Seacoast Banking Co. of Florida and gave the stock a “buy” rating in a research note on Friday, June 21st. Zacks Investment Research lowered HEXO from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Citigroup set a $86.00 price objective on Prologis and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Finally, ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd.
Shares of ET traded up $0.09 during mid-day trading on Friday, reaching $14.84. The company’s stock had a trading volume of 411,718 shares, compared to its average volume of 9,102,126. Energy Transfer LP Unit has a 1-year low of $11.68 and a 1-year high of $19.19. The stock has a market cap of $39.06 billion, a PE ratio of 12.90 and a beta of 1.55. The business’s 50-day moving average price is $14.27. 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 related news, EVP Thomas P. Mason sold 75,000 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $13.97, for a total transaction of $1,047,750.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael K. Grimm acquired 3,888 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were purchased at an average cost of $14.14 per share, for a total transaction of $54,976.32. The disclosure for this purchase can be found here. Company insiders own 3.28% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Buckingham Asset Management LLC acquired a new position in Energy Transfer LP Unit during the 1st quarter worth about $451,000. Heronetta Management L.P. acquired a new position in Energy Transfer LP Unit during the 1st quarter worth about $20,824,000. Meridian Investment Counsel Inc. acquired a new position in Energy Transfer LP Unit during the 1st quarter worth about $332,000. Riggs Asset Managment Co. Inc. acquired a new position in Energy Transfer LP Unit during the 1st quarter worth about $293,000. Finally, Mid Atlantic Financial Management Inc. ADV acquired a new position in Energy Transfer LP Unit during the 1st quarter worth about $407,000. 56.97% 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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