Energy Transfer LP Unit (NYSE:ET) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Energy Transfer LP Unit (NYSE:ET) from a strong sell rating to a sell rating in a research report sent to investors on Wednesday, ValuEngine reports.

ET has been the subject of several other research reports. Raymond James set a $29.00 target price on shares of Seacoast Banking Co. of Florida and gave the company a buy rating in a research note on Friday, June 21st. Citigroup set a $86.00 target price on shares of Prologis and gave the company a buy rating in a research note on Wednesday, May 8th. Finally, Zacks Investment Research upgraded shares of Golub Capital BDC from a hold rating to a buy rating and set a $20.00 target price for the company in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $19.50.

NYSE ET opened at $15.10 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.81 and a debt-to-equity ratio of 1.52. The company has a 50-day moving average of $14.34. Energy Transfer LP Unit has a twelve month low of $11.68 and a twelve month high of $19.19. The company has a market capitalization of $39.21 billion, a PE ratio of 13.13 and a beta of 1.55.

Energy Transfer LP Unit (NYSE:ET) last released its earnings results on Wednesday, May 8th. The pipeline company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.01. Energy Transfer LP Unit had a net margin of 4.03% and a return on equity of 7.61%. The business had revenue of $13.12 billion during the quarter, compared to analysts’ expectations of $14.39 billion. The business’s revenue was up 10.4% on a year-over-year basis. On average, sell-side analysts predict that Energy Transfer LP Unit will post 1.43 earnings per share for the current year.

In related news, Director Michael K. Grimm purchased 3,888 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were acquired at an average cost of $14.14 per share, with a total value of $54,976.32. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas P. Mason sold 75,000 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $13.97, for a total transaction of $1,047,750.00. The disclosure for this sale can be found here. Company insiders own 3.28% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Focused Wealth Management Inc bought a new stake in shares of Energy Transfer LP Unit during the first quarter valued at approximately $25,000. Meridian Wealth Management LLC bought a new stake in shares of Energy Transfer LP Unit during the first quarter valued at approximately $28,000. OLD Second National Bank of Aurora bought a new stake in shares of Energy Transfer LP Unit during the second quarter valued at approximately $27,000. Global Retirement Partners LLC bought a new stake in shares of Energy Transfer LP Unit during the first quarter valued at approximately $32,000. Finally, Global Wealth Management Investment Advisory Inc. bought a new stake in shares of Energy Transfer LP Unit during the first quarter valued at approximately $34,000. 56.97% of the stock is currently owned by institutional investors and hedge funds.

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.

Read More: What causes a recession?

To view ValuEngine’s full report, visit ValuEngine’s official website.

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

Receive News & Ratings for Energy Transfer LP Unit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energy Transfer LP Unit and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit