Energy Transfer LP Unit (NYSE:ET) Expected to Post Earnings of $0.37 Per Share

Wall Street analysts expect Energy Transfer LP Unit (NYSE:ET) to announce earnings of $0.37 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Energy Transfer LP Unit’s earnings. The lowest EPS estimate is $0.30 and the highest is $0.45. Energy Transfer LP Unit reported earnings per share of $0.33 during the same quarter last year, which would suggest a positive year-over-year growth rate of 12.1%. The company is expected to issue its next earnings results on Wednesday, August 14th.

According to Zacks, analysts expect that Energy Transfer LP Unit will report full-year earnings of $1.37 per share for the current financial year, with EPS estimates ranging from $1.18 to $1.63. For the next financial year, analysts expect that the company will post earnings of $1.43 per share, with EPS estimates ranging from $1.16 to $1.77. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Energy Transfer LP Unit.

Energy Transfer LP Unit (NYSE:ET) last announced its earnings results on Wednesday, May 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $13.12 billion for the quarter, compared to analyst estimates of $14.39 billion. Energy Transfer LP Unit’s revenue was up 10.4% compared to the same quarter last year.

A number of analysts have commented on ET shares. Raymond James reiterated an “average” rating and issued a $19.00 price target on shares of Energy Transfer LP Unit in a research note on Friday, June 21st. Zacks Investment Research upgraded shares of Energy Transfer LP Unit from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Wednesday, April 17th. Citigroup increased their price target on shares of Energy Transfer LP Unit from $16.00 to $19.50 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Finally, ValuEngine upgraded shares of Energy Transfer LP Unit from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $19.08.

In related news, Director Michael K. Grimm acquired 3,888 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were bought at an average cost of $14.14 per share, with a total value of $54,976.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas P. Mason sold 75,000 shares of the stock in a transaction dated 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.

Several institutional investors and hedge funds have recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. bought a new position in shares of Energy Transfer LP Unit in the first quarter valued at about $36,683,000. First Trust Advisors LP bought a new position in Energy Transfer LP Unit during the first quarter worth about $4,660,000. FMR LLC bought a new position in Energy Transfer LP Unit during the first quarter worth about $16,012,000. MetLife Investment Advisors LLC bought a new position in Energy Transfer LP Unit during the first quarter worth about $40,585,000. Finally, M Holdings Securities Inc. bought a new position in Energy Transfer LP Unit during the first quarter worth about $362,000. 56.97% of the stock is currently owned by institutional investors.

Shares of ET opened at $13.98 on Friday. Energy Transfer LP Unit has a 12 month low of $11.68 and a 12 month high of $19.19. The stock’s fifty day simple moving average is $14.44. The firm has a market capitalization of $37.77 billion, a PE ratio of 12.16 and a beta of 1.64. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.06 and a quick ratio of 0.81.

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.

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

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