Analysts Expect Energy Transfer LP Unit (NYSE:ET) Will Announce Earnings of $0.34 Per Share

Brokerages expect Energy Transfer LP Unit (NYSE:ET) to post earnings per share of $0.34 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Energy Transfer LP Unit’s earnings, with estimates ranging from $0.30 to $0.42. Energy Transfer LP Unit reported earnings of $0.26 per share during the same quarter last year, which indicates a positive year over year growth rate of 30.8%. The company is scheduled to issue its next earnings results on Wednesday, February 19th.

On average, analysts expect that Energy Transfer LP Unit will report full year earnings of $1.31 per share for the current financial year, with EPS estimates ranging from $1.28 to $1.34. For the next year, analysts forecast that the business will post earnings of $1.43 per share, with EPS estimates ranging from $1.18 to $1.64. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Energy Transfer LP Unit.

Energy Transfer LP Unit (NYSE:ET) last issued its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.05). The business had revenue of $13.50 billion during the quarter, compared to analyst estimates of $14.54 billion. Energy Transfer LP Unit had a net margin of 5.94% and a return on equity of 10.93%. Energy Transfer LP Unit’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the company earned $0.32 earnings per share.

A number of brokerages recently issued reports on ET. Robert W. Baird dropped their price objective on shares of Energy Transfer LP Unit from $21.00 to $18.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Bank of America upped their price objective on shares of Energy Transfer LP Unit from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Raymond James reissued an “average” rating and issued a $19.00 price objective on shares of Energy Transfer LP Unit in a report on Friday, September 6th. Zacks Investment Research raised shares of Energy Transfer LP Unit from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Citigroup dropped their price objective on shares of Energy Transfer LP Unit from $20.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $19.56.

Shares of ET traded down $0.10 during mid-day trading on Friday, reaching $11.50. The stock had a trading volume of 19,043,133 shares, compared to its average volume of 11,998,081. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.00 and a quick ratio of 0.75. Energy Transfer LP Unit has a 52-week low of $10.84 and a 52-week high of $15.98. The business’s fifty day moving average is $12.11 and its 200 day moving average is $13.45. The firm has a market cap of $30.21 billion, a price-to-earnings ratio of 10.00 and a beta of 1.50.

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a yield of 10.61%. The ex-dividend date of this dividend was Monday, November 4th. Energy Transfer LP Unit’s dividend payout ratio (DPR) is presently 106.09%.

In related news, CEO Kelcy L. Warren bought 3,969,224 shares of the stock in a transaction on Tuesday, November 19th. The stock was bought at an average price of $11.72 per share, with a total value of $46,519,305.28. Also, CFO Thomas E. Long bought 18,000 shares of the stock in a transaction on Thursday, November 14th. The shares were bought at an average cost of $11.15 per share, with a total value of $200,700.00. Following the purchase, the chief financial officer now owns 517,698 shares of the company’s stock, valued at $5,772,332.70. 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 modified their holdings of the company. Westside Investment Management Inc. acquired a new stake in shares of Energy Transfer LP Unit during the second quarter worth about $1,981,000. First Personal Financial Services acquired a new stake in shares of Energy Transfer LP Unit during the second quarter worth about $27,000. Rocky Mountain Advisers LLC acquired a new stake in shares of Energy Transfer LP Unit during the second quarter worth about $28,000. Pathstone Family Office LLC acquired a new stake in shares of Energy Transfer LP Unit during the second quarter worth about $28,000. Finally, Prestige Wealth Management Group LLC acquired a new stake in shares of Energy Transfer LP Unit during the second quarter worth about $31,000. 53.47% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: Hold Rating

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Earnings History and Estimates for Energy Transfer LP Unit (NYSE:ET)

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