Zacks Investment Research Downgrades Energy Transfer LP Unit (NYSE:ET) to Sell

Energy Transfer LP Unit (NYSE:ET) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday, Zacks.com reports.

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 analysts also recently commented on ET. Robert W. Baird lowered their price target on Energy Transfer LP Unit from $21.00 to $18.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. ValuEngine raised Energy Transfer LP Unit from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Wells Fargo & Co increased their price objective on Energy Transfer LP Unit from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Piper Jaffray Companies initiated coverage on Energy Transfer LP Unit in a research report on Wednesday, July 17th. They issued an “overweight” rating and a $22.00 price objective for the company. Finally, Citigroup set a $20.00 price objective on Energy Transfer LP Unit and gave the company a “buy” rating in a research report on Monday, August 12th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $19.60.

NYSE:ET traded down $0.16 during mid-day trading on Tuesday, reaching $12.70. The stock had a trading volume of 12,544,926 shares, compared to its average volume of 10,847,658. The business’s 50 day moving average is $13.17 and its 200 day moving average is $14.17. Energy Transfer LP Unit has a fifty-two week low of $11.68 and a fifty-two week high of $17.04. The stock has a market cap of $33.42 billion, a P/E ratio of 11.04 and a beta of 1.52. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 0.83.

Energy Transfer LP Unit (NYSE:ET) last released its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Energy Transfer LP Unit had a return on equity of 9.10% and a net margin of 4.99%. The firm had revenue of $13.88 billion during the quarter, compared to analyst estimates of $14.49 billion. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. Equities analysts expect that Energy Transfer LP Unit will post 1.42 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of ET. OLD Second National Bank of Aurora acquired a new stake in shares of Energy Transfer LP Unit in the second quarter valued at $27,000. First Personal Financial Services acquired a new stake in shares of Energy Transfer LP Unit in the second quarter valued at $27,000. Rocky Mountain Advisers LLC acquired a new stake in shares of Energy Transfer LP Unit in the second quarter valued at $28,000. Pathstone Family Office LLC acquired a new stake in shares of Energy Transfer LP Unit in the second quarter valued at $28,000. Finally, Prestige Wealth Management Group LLC acquired a new stake in shares of Energy Transfer LP Unit in the second quarter valued at $31,000. 55.29% of the stock is owned by institutional investors.

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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