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.

Energy Transfer LP Unit (NYSE:ET) last released its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ 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 during the quarter, compared to analysts’ expectations of $14.39 billion. Energy Transfer LP Unit’s revenue was up 10.4% on a year-over-year basis. As a group, research analysts predict that Energy Transfer LP Unit will post 1.43 EPS for the current fiscal year.

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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Analyst Recommendations for Energy Transfer LP Unit (NYSE:ET)

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