Energy Transfer LP Unit (NYSE:ET) Expected to Announce Quarterly Sales of $14.25 Billion

Equities research analysts expect Energy Transfer LP Unit (NYSE:ET) to announce sales of $14.25 billion for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Energy Transfer LP Unit’s earnings, with the highest sales estimate coming in at $15.75 billion and the lowest estimate coming in at $13.22 billion. Energy Transfer LP Unit posted sales of $14.51 billion in the same quarter last year, which suggests a negative year over year growth rate of 1.8%. The company is expected to announce its next earnings report on Wednesday, November 6th.

According to Zacks, analysts expect that Energy Transfer LP Unit will report full year sales of $55.47 billion for the current financial year, with estimates ranging from $53.35 billion to $58.05 billion. For the next year, analysts expect that the company will post sales of $57.52 billion, with estimates ranging from $54.54 billion to $61.82 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Energy Transfer LP Unit.

Energy Transfer LP Unit (NYSE:ET) last released its earnings results on Wednesday, August 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The company had revenue of $13.88 billion during the quarter, compared to analysts’ expectations of $14.49 billion. Energy Transfer LP Unit had a return on equity of 9.18% and a net margin of 4.99%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis.

Several brokerages have recently commented on ET. Raymond James reaffirmed an “average” rating and set a $19.00 price objective on shares of Energy Transfer LP Unit in a research report on Friday, June 21st. Zacks Investment Research lowered Energy Transfer LP Unit from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Wells Fargo & Co boosted their price objective on Energy Transfer LP Unit from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Evercore ISI set a $18.00 price objective on Energy Transfer LP Unit and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Citigroup set a $20.00 price objective on Energy Transfer LP Unit and gave the stock a “buy” rating in a report on Monday. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $19.67.

In other Energy Transfer LP Unit news, EVP Thomas P. Mason sold 75,000 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $13.97, for a total value of $1,047,750.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael K. Grimm acquired 3,888 shares of the business’s stock in a transaction on Friday, June 14th. The stock was purchased at an average price of $14.14 per share, for a total transaction of $54,976.32. The disclosure for this purchase can be found here. Insiders own 3.28% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. bought a new position in Energy Transfer LP Unit in the 1st quarter valued at approximately $1,417,810,000. Invesco Ltd. raised its stake in Energy Transfer LP Unit by 20,211.7% in the 2nd quarter. Invesco Ltd. now owns 62,395,665 shares of the pipeline company’s stock valued at $878,531,000 after acquiring an additional 62,088,474 shares during the period. Alps Advisors Inc. raised its stake in Energy Transfer LP Unit by 2.8% in the 2nd quarter. Alps Advisors Inc. now owns 62,091,770 shares of the pipeline company’s stock valued at $874,252,000 after acquiring an additional 1,668,774 shares during the period. OppenheimerFunds Inc. bought a new stake in Energy Transfer LP Unit in the 1st quarter valued at about $938,384,000. Finally, Morgan Stanley raised its stake in Energy Transfer LP Unit by 8.6% in the 2nd quarter. Morgan Stanley now owns 55,957,786 shares of the pipeline company’s stock valued at $787,886,000 after acquiring an additional 4,435,311 shares during the period. Institutional investors and hedge funds own 57.41% of the company’s stock.

NYSE ET traded down $0.05 during trading hours on Friday, reaching $13.09. The company’s stock had a trading volume of 10,689,601 shares, compared to its average volume of 10,718,798. The company’s fifty day simple moving average is $14.39. The firm has a market capitalization of $35.10 billion, a PE ratio of 11.38 and a beta of 1.54. Energy Transfer LP Unit has a 52 week low of $11.68 and a 52 week high of $18.38. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.81 and a current ratio of 1.06.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Tuesday, August 6th will be issued a $0.305 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $1.22 dividend on an annualized basis and a yield of 9.32%. Energy Transfer LP Unit’s dividend payout ratio is currently 106.09%.

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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