Energy Transfer LP (NYSE:ET) Expected to Post Quarterly Sales of $22.08 Billion

Equities research analysts expect Energy Transfer LP (NYSE:ETGet Rating) to announce sales of $22.08 billion for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Energy Transfer’s earnings, with the highest sales estimate coming in at $22.19 billion and the lowest estimate coming in at $21.97 billion. Energy Transfer posted sales of $15.10 billion in the same quarter last year, which suggests a positive year over year growth rate of 46.2%. The company is expected to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Energy Transfer will report full year sales of $87.74 billion for the current financial year, with estimates ranging from $87.18 billion to $88.30 billion. For the next year, analysts expect that the company will post sales of $89.47 billion, with estimates ranging from $87.35 billion to $91.59 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Energy Transfer.

Energy Transfer (NYSE:ETGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The pipeline company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.12. Energy Transfer had a return on equity of 10.25% and a net margin of 4.58%. The business had revenue of $20.49 billion for the quarter, compared to analysts’ expectations of $18.79 billion. During the same period last year, the business earned $1.14 EPS. The business’s revenue was up 20.6% on a year-over-year basis.

A number of equities research analysts have recently commented on ET shares. Raymond James lifted their target price on Energy Transfer from $13.00 to $14.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 17th. Morgan Stanley lifted their price objective on Energy Transfer from $12.00 to $15.00 and gave the stock an “overweight” rating in a report on Tuesday, April 26th. Zacks Investment Research raised Energy Transfer from a “hold” rating to a “strong-buy” rating and set a $13.00 price objective for the company in a report on Wednesday, March 30th. Finally, Mizuho lifted their price objective on Energy Transfer from $13.00 to $14.00 in a report on Friday, February 18th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Energy Transfer presently has an average rating of “Buy” and an average target price of $14.00.

Shares of NYSE ET traded up $0.08 during mid-day trading on Friday, reaching $11.65. 19,410,950 shares of the company’s stock were exchanged, compared to its average volume of 22,632,092. The firm has a market capitalization of $35.95 billion, a price-to-earnings ratio of 10.99 and a beta of 1.93. Energy Transfer has a 52 week low of $7.96 and a 52 week high of $12.48. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.14 and a quick ratio of 1.00. The firm has a 50-day moving average price of $11.21 and a two-hundred day moving average price of $9.96.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 19th. Investors of record on Monday, May 9th were given a $0.20 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, May 6th. This represents a $0.80 dividend on an annualized basis and a yield of 6.87%. Energy Transfer’s payout ratio is presently 75.47%.

In related news, Director Michael K. Grimm acquired 504,600 shares of the stock in a transaction on Wednesday, April 6th. The stock was purchased at an average price of $11.21 per share, for a total transaction of $5,656,566.00. Following the completion of the transaction, the director now owns 181,089 shares of the company’s stock, valued at approximately $2,030,007.69. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 3.28% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC purchased a new stake in Energy Transfer in the first quarter worth $16,012,000. First Trust Advisors LP purchased a new stake in Energy Transfer in the first quarter worth $4,660,000. Allianz Asset Management GmbH grew its stake in Energy Transfer by 3.1% in the third quarter. Allianz Asset Management GmbH now owns 2,357,565 shares of the pipeline company’s stock worth $22,585,000 after purchasing an additional 71,600 shares during the period. Essex Financial Services Inc. grew its stake in Energy Transfer by 8.3% in the third quarter. Essex Financial Services Inc. now owns 15,515 shares of the pipeline company’s stock worth $149,000 after purchasing an additional 1,193 shares during the period. Finally, US Bancorp DE grew its stake in Energy Transfer by 74.8% in the third quarter. US Bancorp DE now owns 143,666 shares of the pipeline company’s stock worth $1,377,000 after purchasing an additional 61,477 shares during the period. 48.40% of the stock is currently owned by hedge funds and other institutional investors.

About Energy Transfer (Get Rating)

Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,830 miles of interstate natural gas pipeline.

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

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