Energy Transfer LP Unit (NYSE:ET) was up 4.1% during mid-day trading on Wednesday . The company traded as high as $6.68 and last traded at $6.62, approximately 22,044,271 shares traded hands during trading. A decline of 15% from the average daily volume of 26,051,210 shares. The stock had previously closed at $6.36.
A number of analysts have issued reports on ET shares. Sanford C. Bernstein decreased their price target on Energy Transfer LP Unit from $22.00 to $12.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Citigroup reduced their target price on Energy Transfer LP Unit from $18.00 to $10.00 and set a “buy” rating for the company in a report on Monday, June 22nd. Piper Sandler boosted their price target on Energy Transfer LP Unit from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th. UBS Group dropped their price target on Energy Transfer LP Unit from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, April 3rd. Finally, Evercore ISI assumed coverage on Energy Transfer LP Unit in a research report on Monday, June 15th. They issued a “hold” rating and a $10.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $11.82.
The company has a current ratio of 0.83, a quick ratio of 0.66 and a debt-to-equity ratio of 1.57. The business has a 50 day moving average of $7.65 and a 200-day moving average of $9.02. The stock has a market cap of $17.81 billion, a PE ratio of 9.32 and a beta of 2.67.
Energy Transfer LP Unit (NYSE:ET) last issued its quarterly earnings results on Monday, May 11th. The pipeline company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.64). Energy Transfer LP Unit had a return on equity of 10.30% and a net margin of 3.54%. The business had revenue of $11.60 billion for the quarter, compared to analysts’ expectations of $14.40 billion. During the same period in the prior year, the company earned $0.33 EPS. The company’s revenue for the quarter was down 11.6% compared to the same quarter last year. On average, equities research analysts anticipate that Energy Transfer LP Unit will post 1.1 EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of the business. Squar Milner Financial Services LLC lifted its stake in shares of Energy Transfer LP Unit by 303.7% during the 2nd quarter. Squar Milner Financial Services LLC now owns 43,434 shares of the pipeline company’s stock worth $309,000 after purchasing an additional 32,674 shares during the period. BLB&B Advisors LLC raised its position in shares of Energy Transfer LP Unit by 300.5% in the 2nd quarter. BLB&B Advisors LLC now owns 64,160 shares of the pipeline company’s stock worth $457,000 after buying an additional 48,139 shares during the period. Parallel Advisors LLC raised its position in shares of Energy Transfer LP Unit by 290.9% in the 2nd quarter. Parallel Advisors LLC now owns 30,531 shares of the pipeline company’s stock worth $217,000 after buying an additional 22,721 shares during the period. Walter & Keenan Financial Consulting Co. MI ADV purchased a new position in shares of Energy Transfer LP Unit in the 2nd quarter worth $75,000. Finally, Raymond James Trust N.A. raised its position in shares of Energy Transfer LP Unit by 4.2% in the 2nd quarter. Raymond James Trust N.A. now owns 66,560 shares of the pipeline company’s stock worth $474,000 after buying an additional 2,710 shares during the period. 46.95% of the stock is currently owned by institutional investors.
About Energy Transfer LP Unit (NYSE:ET)
Energy Transfer LP provides energy-related services. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and 12,500 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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