Zacks: Brokerages Expect Energy Transfer LP Unit (NYSE:ET) Will Announce Quarterly Sales of $14.07 Billion

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Brokerages expect Energy Transfer LP Unit (NYSE:ET) to report $14.07 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Energy Transfer LP Unit’s earnings. The highest sales estimate is $15.01 billion and the lowest is $12.99 billion. Energy Transfer LP Unit posted sales of $13.57 billion in the same quarter last year, which would indicate a positive year over year growth rate of 3.7%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, February 19th.

According to Zacks, analysts expect that Energy Transfer LP Unit will report full-year sales of $54.84 billion for the current year, with estimates ranging from $53.49 billion to $56.25 billion. For the next fiscal year, analysts anticipate that the company will report sales of $57.31 billion, with estimates ranging from $53.34 billion to $63.00 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Energy Transfer LP Unit.

Energy Transfer LP Unit (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.05). The business had revenue of $13.50 billion for the quarter, compared to analyst estimates of $14.54 billion. Energy Transfer LP Unit had a return on equity of 10.93% and a net margin of 5.94%. Energy Transfer LP Unit’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period last year, the firm earned $0.32 EPS.

ET has been the topic of several research reports. Citigroup decreased their target price on Energy Transfer LP Unit from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. Robert W. Baird decreased their target price on Energy Transfer LP Unit from $21.00 to $18.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Wells Fargo & Co upped their target price on Energy Transfer LP Unit from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Evercore ISI set a $18.00 target price on Energy Transfer LP Unit and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, TheStreet downgraded Energy Transfer LP Unit from a “b-” rating to a “c+” rating in a research report on Monday, October 21st. One investment 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. The company currently has a consensus rating of “Buy” and an average target price of $19.40.

In related news, CEO Kelcy L. Warren purchased 3,969,224 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was acquired at an average cost of $11.72 per share, for a total transaction of $46,519,305.28. Also, CFO Thomas E. Long purchased 18,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was bought at an average price of $11.15 per share, with a total value of $200,700.00. Following the completion of the purchase, the chief financial officer now owns 517,698 shares of the company’s stock, valued at approximately $5,772,332.70. The disclosure for this purchase can be found here. Insiders own 3.28% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. First Personal Financial Services bought a new stake in shares of Energy Transfer LP Unit in the second quarter valued at approximately $27,000. Rocky Mountain Advisers LLC bought a new stake in Energy Transfer LP Unit during the second quarter worth $28,000. Pathstone Family Office LLC bought a new stake in Energy Transfer LP Unit during the second quarter worth $28,000. First Interstate Bank lifted its stake in Energy Transfer LP Unit by 607.6% during the third quarter. First Interstate Bank now owns 2,236 shares of the pipeline company’s stock worth $29,000 after purchasing an additional 1,920 shares during the last quarter. Finally, Prestige Wealth Management Group LLC bought a new stake in Energy Transfer LP Unit during the second quarter worth $31,000. Institutional investors and hedge funds own 53.47% of the company’s stock.

Shares of NYSE ET opened at $11.81 on Monday. Energy Transfer LP Unit has a twelve month low of $10.84 and a twelve month high of $15.98. The business’s 50 day moving average price is $12.24 and its two-hundred day moving average price is $13.57. The company has a quick ratio of 0.75, a current ratio of 1.00 and a debt-to-equity ratio of 1.49. The company has a market cap of $31.18 billion, a PE ratio of 10.27 and a beta of 1.53.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were given a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 10.33%. The ex-dividend date was Monday, November 4th. Energy Transfer LP Unit’s payout ratio is 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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