Energy Transfer LP Unit (NYSE:ET) had its target price decreased by Citigroup from $20.00 to $18.00 in a research note published on Tuesday, LiveTradingNews reports. Citigroup currently has a buy rating on the pipeline company’s stock.
A number of other brokerages have also recently issued reports on ET. ValuEngine raised shares of Energy Transfer LP Unit from a strong sell rating to a sell rating in a report on Wednesday, October 2nd. Bank of America upped their target price on Energy Transfer LP Unit from $23.00 to $24.00 and gave the company a buy rating in a report on Wednesday, September 18th. TheStreet cut Energy Transfer LP Unit from a b- rating to a c+ rating in a research report on Monday, October 21st. Robert W. Baird dropped their price target on Energy Transfer LP Unit from $21.00 to $18.00 and set an outperform rating on the stock in a research report on Tuesday, October 8th. Finally, Evercore ISI set a $18.00 price target on Energy Transfer LP Unit and gave the stock a buy rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $19.40.
ET stock traded down $0.02 during trading on Tuesday, hitting $11.36. 16,143,595 shares of the company’s stock traded hands, compared to its average volume of 11,674,299. The stock has a market capitalization of $30.53 billion, a price-to-earnings ratio of 9.88 and a beta of 1.53. Energy Transfer LP Unit has a 52 week low of $10.84 and a 52 week high of $15.98. The stock has a fifty day moving average price of $12.42 and a two-hundred day moving average price of $13.73. The company has a quick ratio of 0.75, a current ratio of 1.00 and a debt-to-equity ratio of 1.49.
Energy Transfer LP Unit (NYSE:ET) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.05). Energy Transfer LP Unit had a return on equity of 10.93% and a net margin of 5.94%. The business had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $14.54 billion. During the same quarter in the previous year, the business posted $0.32 earnings per share. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. As a group, equities research analysts expect that Energy Transfer LP Unit will post 1.41 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were given a $0.305 dividend. This represents a $1.22 annualized dividend and a yield of 10.74%. The ex-dividend date was Monday, November 4th. Energy Transfer LP Unit’s dividend payout ratio is currently 106.09%.
In related news, CFO Thomas E. Long acquired 18,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were acquired at an average cost of $11.15 per share, for a total transaction of $200,700.00. Following the completion of the purchase, the chief financial officer now directly owns 517,698 shares in the company, valued at $5,772,332.70. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.28% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Invesco Ltd. raised its position in Energy Transfer LP Unit by 20,211.7% in the second quarter. Invesco Ltd. now owns 62,395,665 shares of the pipeline company’s stock worth $878,531,000 after acquiring an additional 62,088,474 shares in the last quarter. Alps Advisors Inc. raised its holdings in shares of Energy Transfer LP Unit by 2.8% in the 2nd quarter. Alps Advisors Inc. now owns 62,091,770 shares of the pipeline company’s stock worth $874,252,000 after purchasing an additional 1,668,774 shares in the last quarter. Morgan Stanley raised its holdings in shares of Energy Transfer LP Unit by 8.6% in the 2nd quarter. Morgan Stanley now owns 55,957,786 shares of the pipeline company’s stock worth $787,886,000 after purchasing an additional 4,435,311 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Energy Transfer LP Unit in the 2nd quarter worth approximately $653,846,000. Finally, CIBC Private Wealth Group LLC lifted its stake in Energy Transfer LP Unit by 1.6% during the third quarter. CIBC Private Wealth Group LLC now owns 42,094,383 shares of the pipeline company’s stock valued at $550,595,000 after purchasing an additional 677,637 shares during the last quarter. Institutional investors and hedge funds own 54.67% of the company’s stock.
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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