Energy Transfer LP Unit (ET) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of Energy Transfer LP Unit (NYSE:ET) from a buy rating to a hold rating in a research report released on Friday, Zacks.com reports.

According to Zacks, “Energy Transfer LP owns and operates diversified portfolios of energy assets primarily in the United States. The company is a publicly traded limited partnership with core operations which include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids and refined product transportation and terminalling assets; NGL fractionation and various acquisition and marketing assets. Energy Transfer LP, formerly known as Energy Transfer Equity L.P., is based in Dallas, United States. “

Several other research firms also recently weighed in on ET. ValuEngine upgraded Energy Transfer LP Unit from a strong sell rating to a sell rating in a research report on Saturday, January 5th. Evercore ISI began coverage on Energy Transfer LP Unit in a research report on Tuesday, February 5th. They set an outperform rating on the stock. TheStreet upgraded Energy Transfer LP Unit from a c+ rating to a b rating in a research report on Thursday, February 21st. Stifel Nicolaus reiterated a buy rating and set a $20.00 target price on shares of Energy Transfer LP Unit in a research report on Thursday, February 21st. Finally, Raymond James upgraded Energy Transfer LP Unit from an outperform rating to a strong-buy rating in a research report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $19.20.

Shares of ET stock opened at $15.20 on Friday. Energy Transfer LP Unit has a 1-year low of $11.68 and a 1-year high of $19.19. The firm has a market cap of $39.81 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 0.44 and a beta of 1.75. The company has a current ratio of 0.73, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Energy Transfer LP Unit (NYSE:ET) last announced its quarterly earnings data on Wednesday, February 20th. The pipeline company reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.04). Energy Transfer LP Unit had a return on equity of 6.15% and a net margin of 3.18%. The business had revenue of $13.57 billion for the quarter, compared to analyst estimates of $14.67 billion. The firm’s revenue was up 18.5% compared to the same quarter last year. Equities analysts predict that Energy Transfer LP Unit will post 1.43 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Tuesday, May 7th will be given a dividend of $0.305 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $1.22 annualized dividend and a yield of 8.03%. Energy Transfer LP Unit’s dividend payout ratio (DPR) is presently 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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