Robert W. Baird Lowers Energy Transfer LP Unit (NYSE:ET) Price Target to $18.00

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Energy Transfer LP Unit (NYSE:ET) had its price target decreased by Robert W. Baird from $21.00 to $18.00 in a research report released on Tuesday, BenzingaRatingsTable reports. Robert W. Baird currently has an outperform rating on the pipeline company’s stock.

Several other analysts also recently commented on the company. Raymond James reiterated an average rating and set a $19.00 target price on shares of Energy Transfer LP Unit in a research note on Friday, September 6th. Evercore ISI set a $18.00 target price on Energy Transfer LP Unit and gave the company a buy rating in a research note on Wednesday, August 7th. Citigroup set a $20.00 target price on Energy Transfer LP Unit and gave the company a buy rating in a research note on Monday, August 12th. Bank of America increased their target price on Energy Transfer LP Unit from $23.00 to $24.00 and gave the company a buy rating in a research note on Wednesday, September 18th. Finally, Zacks Investment Research downgraded Energy Transfer LP Unit from a buy rating to a hold rating in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $19.60.

ET stock opened at $12.57 on Tuesday. The business has a 50 day moving average of $13.32 and a 200 day moving average of $14.32. The company has a quick ratio of 0.83, a current ratio of 1.12 and a debt-to-equity ratio of 1.48. Energy Transfer LP Unit has a twelve month low of $11.68 and a twelve month high of $17.45. The firm has a market cap of $32.34 billion, a PE ratio of 9.63 and a beta of 1.52.

Energy Transfer LP Unit (NYSE:ET) last issued its earnings results on Wednesday, August 7th. The pipeline company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). Energy Transfer LP Unit had a net margin of 4.99% and a return on equity of 9.10%. The business had revenue of $13.88 billion for 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. On average, research analysts expect that Energy Transfer LP Unit will post 1.43 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. boosted its stake in shares of 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 worth $878,531,000 after buying an additional 62,088,474 shares during the last quarter. Alps Advisors Inc. boosted its stake in shares of 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 worth $874,252,000 after buying an additional 1,668,774 shares during the last quarter. Morgan Stanley boosted its stake in shares of 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 worth $787,886,000 after buying an additional 4,435,311 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Energy Transfer LP Unit in the 2nd quarter worth $653,846,000. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of Energy Transfer LP Unit by 2.0% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 41,416,746 shares of the pipeline company’s stock worth $583,148,000 after buying an additional 813,260 shares during the last quarter. Hedge funds and other institutional investors own 55.33% of the company’s stock.

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.

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

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