Energy Transfer LP Unit Expected to Earn Q2 2019 Earnings of $0.32 Per Share (NYSE:ET)
Energy Transfer LP Unit (NYSE:ET) – Investment analysts at Piper Jaffray Companies issued their Q2 2019 earnings estimates for Energy Transfer LP Unit in a research note issued on Wednesday, July 17th. Piper Jaffray Companies analyst P. Hammond forecasts that the pipeline company will post earnings per share of $0.32 for the quarter. Piper Jaffray Companies has a “Overweight” rating and a $22.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Energy Transfer LP Unit’s Q3 2019 earnings at $0.33 EPS, Q4 2019 earnings at $0.32 EPS, FY2019 earnings at $1.36 EPS, Q1 2020 earnings at $0.31 EPS, Q2 2020 earnings at $0.31 EPS, Q3 2020 earnings at $0.32 EPS, Q4 2020 earnings at $0.33 EPS, FY2020 earnings at $1.27 EPS and FY2021 earnings at $1.30 EPS.
Energy Transfer LP Unit (NYSE:ET) last posted its earnings results on Wednesday, May 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.01. Energy Transfer LP Unit had a return on equity of 7.61% and a net margin of 4.03%. The firm had revenue of $13.12 billion for the quarter, compared to analysts’ expectations of $14.39 billion. Energy Transfer LP Unit’s revenue for the quarter was up 10.4% compared to the same quarter last year.
ET opened at $15.10 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.06 and a debt-to-equity ratio of 1.52. Energy Transfer LP Unit has a 52-week low of $11.68 and a 52-week high of $19.19. The stock has a market capitalization of $39.21 billion, a PE ratio of 13.13 and a beta of 1.55. The company’s 50 day simple moving average is $14.34.
In related news, EVP Thomas P. Mason sold 75,000 shares of Energy Transfer LP Unit stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $13.97, for a total transaction of $1,047,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael K. Grimm purchased 3,888 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were 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.
Institutional investors have recently added to or reduced their stakes in the business. Buckingham Asset Management LLC bought a new stake in Energy Transfer LP Unit in the first quarter worth $451,000. Heronetta Management L.P. bought a new stake in Energy Transfer LP Unit in the first quarter worth $20,824,000. Meridian Investment Counsel Inc. bought a new stake in Energy Transfer LP Unit in the first quarter worth $332,000. Riggs Asset Managment Co. Inc. bought a new stake in Energy Transfer LP Unit in the first quarter worth $293,000. Finally, Mid Atlantic Financial Management Inc. ADV bought a new stake in Energy Transfer LP Unit in the first quarter worth $407,000. 56.97% of the stock is currently owned by institutional investors and hedge funds.
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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