Energy Transfer LP Unit (NYSE:ET) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Energy Transfer LP owns and operates diversified portfolios of energy assets primarily in the United States. The company is a publicly traded limited partnership with core operations which include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids and refined product transportation and terminalling assets; NGL fractionation and various acquisition and marketing assets. Energy Transfer LP, formerly known as Energy Transfer Equity L.P., is based in Dallas, United States. “
Several other equities research analysts have also weighed in on the company. TheStreet raised Energy Transfer LP Unit from a “c+” rating to a “b” rating in a research note on Thursday, February 21st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $20.00 target price on shares of Energy Transfer LP Unit in a research report on Thursday, February 21st. Evercore ISI initiated coverage on Energy Transfer LP Unit in a research report on Tuesday, February 5th. They issued an “outperform” rating for the company. ValuEngine raised Energy Transfer LP Unit from a “strong sell” rating to a “sell” rating in a research report on Monday, February 4th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $18.00 target price on shares of Energy Transfer LP Unit in a research report on Thursday, December 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. Energy Transfer LP Unit presently has a consensus rating of “Buy” and an average target price of $19.75.
ET opened at $14.79 on Wednesday. The firm has a market cap of $17.20 billion, a PE ratio of 12.86, a P/E/G ratio of 0.51 and a beta of 1.75. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.74 and a quick ratio of 0.53. Energy Transfer LP Unit has a fifty-two week low of $11.68 and a fifty-two week high of $19.19.
Energy Transfer LP Unit (NYSE:ET) last released its quarterly earnings data on Wednesday, February 20th. The pipeline company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.04). The company had revenue of $13.57 billion for the quarter, compared to the consensus estimate of $14.67 billion. Energy Transfer LP Unit had a return on equity of 6.19% and a net margin of 3.18%. Energy Transfer LP Unit’s revenue was up 18.5% on a year-over-year basis. Equities research analysts forecast that Energy Transfer LP Unit will post 1.25 earnings per share for the current fiscal year.
In other Energy Transfer LP Unit news, CFO Thomas E. Long bought 24,500 shares of the firm’s stock in a transaction dated Monday, December 24th. The stock was acquired at an average price of $12.05 per share, with a total value of $295,225.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.28% of the company’s stock.
About Energy Transfer LP Unit
Energy Transfer LP provides diversified energy-related services in the United States. It owns and operates approximately 7,900 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and approximately 11,800 miles of interstate natural gas pipelines. The company sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.
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