Zacks: Brokerages Anticipate Energy Transfer LP Unit (NYSE:ET) Will Announce Earnings of $0.35 Per Share

Equities analysts expect that Energy Transfer LP Unit (NYSE:ET) will announce earnings per share (EPS) of $0.35 for the current quarter, Zacks reports. Four analysts have issued estimates for Energy Transfer LP Unit’s earnings, with the lowest EPS estimate coming in at $0.32 and the highest estimate coming in at $0.41. Energy Transfer LP Unit reported earnings per share of $0.32 in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.4%. The business is expected to issue its next earnings report on Wednesday, November 6th.

On average, analysts expect that Energy Transfer LP Unit will report full year earnings of $1.34 per share for the current fiscal year, with EPS estimates ranging from $1.28 to $1.48. For the next year, analysts forecast that the company will post earnings of $1.44 per share, with EPS estimates ranging from $1.15 to $1.77. Zacks’ EPS averages are an average based on a survey of analysts that cover 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). Energy Transfer LP Unit had a return on equity of 9.18% and a net margin of 4.99%. The company had revenue of $13.88 billion during the quarter, compared to analysts’ expectations of $14.49 billion. The company’s revenue for the quarter was down 1.7% on a year-over-year basis.

A number of equities research analysts have issued reports on ET shares. Raymond James reiterated an “average” rating and issued a $19.00 target price on shares of Energy Transfer LP Unit in a research report on Friday, June 21st. Zacks Investment Research downgraded shares of Energy Transfer LP Unit from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Evercore ISI set a $18.00 target price on shares of Energy Transfer LP Unit and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Piper Jaffray Companies initiated coverage on shares of Energy Transfer LP Unit in a report on Wednesday, July 17th. They set an “overweight” rating and a $22.00 price target on the stock. Finally, ValuEngine upgraded shares of Energy Transfer LP Unit from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $19.67.

ET stock traded down $0.05 during midday trading on Thursday, reaching $13.09. The company had a trading volume of 10,689,601 shares, compared to its average volume of 10,718,798. Energy Transfer LP Unit has a 1 year low of $11.68 and a 1 year high of $18.38. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.06 and a quick ratio of 0.81. The stock has a market capitalization of $35.10 billion, a P/E ratio of 11.38 and a beta of 1.54. The company’s 50 day moving average price is $14.39.

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

In related news, EVP Thomas P. Mason sold 75,000 shares of the firm’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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael K. Grimm bought 3,888 shares of the stock in a transaction that occurred 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. 3.28% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. raised its stake in shares of Energy Transfer LP Unit by 0.7% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 262,718 shares of the pipeline company’s stock worth $3,699,000 after buying an additional 1,892 shares during the last quarter. MidWestOne Financial Group Inc. acquired a new position in Energy Transfer LP Unit during the second quarter valued at approximately $1,268,000. Security National Trust Co. acquired a new position in shares of Energy Transfer LP Unit in the second quarter valued at approximately $169,000. Zimmer Partners LP boosted its holdings in shares of Energy Transfer LP Unit by 11.0% in the second quarter. Zimmer Partners LP now owns 10,199,454 shares of the pipeline company’s stock valued at $143,608,000 after buying an additional 1,007,439 shares during the period. Finally, Green Square Asset Management LLC acquired a new position in shares of Energy Transfer LP Unit in the second quarter valued at approximately $282,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

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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