Energy Transfer LP (NYSE:ET) Expected to Post Quarterly Sales of $14.95 Billion

Equities research analysts expect Energy Transfer LP (NYSE:ET) to announce sales of $14.95 billion for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Energy Transfer’s earnings. The lowest sales estimate is $13.10 billion and the highest is $16.79 billion. Energy Transfer reported sales of $9.96 billion in the same quarter last year, which would suggest a positive year over year growth rate of 50.1%. The company is expected to announce its next quarterly earnings report on Wednesday, November 3rd.

On average, analysts expect that Energy Transfer will report full-year sales of $63.68 billion for the current fiscal year, with estimates ranging from $57.88 billion to $66.81 billion. For the next fiscal year, analysts expect that the business will report sales of $65.40 billion, with estimates ranging from $57.61 billion to $70.29 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Energy Transfer.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, August 3rd. The pipeline company reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.06). Energy Transfer had a net margin of 6.99% and a return on equity of 16.03%. The business had revenue of $15.10 billion during the quarter, compared to analyst estimates of $15.54 billion.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Energy Transfer from a “buy” rating to a “hold” rating in a research note on Friday, August 6th. Tudor Pickering upgraded shares of Energy Transfer from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Tuesday, September 21st. Raymond James increased their price objective on shares of Energy Transfer from $12.00 to $13.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, July 21st. Citigroup increased their price objective on shares of Energy Transfer from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, September 14th. Finally, Wolfe Research raised shares of Energy Transfer from a “peer perform” rating to an “outperform” rating and increased their target price for the stock from $12.00 to $13.00 in a report on Friday, July 16th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $12.75.

In other Energy Transfer news, Chairman Kelcy L. Warren purchased 949,542 shares of Energy Transfer stock in a transaction that occurred on Friday, August 6th. The stock was acquired at an average price of $9.35 per share, with a total value of $8,878,217.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Bradford D. Whitehurst purchased 5,000 shares of Energy Transfer stock in a transaction that occurred on Monday, August 9th. The stock was acquired at an average cost of $9.21 per share, with a total value of $46,050.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 2,218,870 shares of company stock valued at $20,493,175. Insiders own 3.28% of the company’s stock.

Large investors have recently modified their holdings of the business. CX Institutional bought a new stake in shares of Energy Transfer during the 2nd quarter worth $26,000. Hillsdale Investment Management Inc. bought a new stake in shares of Energy Transfer during the 2nd quarter worth $27,000. Bbva USA bought a new stake in shares of Energy Transfer during the 2nd quarter worth $27,000. CVA Family Office LLC bought a new stake in shares of Energy Transfer during the 3rd quarter worth $27,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Energy Transfer during the 2nd quarter worth $35,000. Institutional investors and hedge funds own 37.96% of the company’s stock.

Shares of ET stock traded up $0.02 on Monday, hitting $9.98. The company’s stock had a trading volume of 191,247 shares, compared to its average volume of 17,631,791. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.77 and a current ratio of 0.96. The stock’s 50 day moving average is $9.43 and its 200-day moving average is $9.56. Energy Transfer has a fifty-two week low of $4.98 and a fifty-two week high of $11.55. The company has a market capitalization of $26.99 billion, a PE ratio of 7.60 and a beta of 2.50.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 19th. Stockholders of record on Friday, August 6th were given a dividend of $0.1525 per share. This represents a $0.61 annualized dividend and a dividend yield of 6.11%. The ex-dividend date was Thursday, August 5th. Energy Transfer’s dividend payout ratio (DPR) is -338.89%.

Energy Transfer Company Profile

Energy Transfer LP provides natural gas pipeline transportation and transmission services. It operates through the following segments: Intrastate Transportation and Storage, Interstate Transportation and Storage, Midstream, NGL and Refined Products Transportation and Services, Crude Oil Transportation and Services, Investment in Sunoco LP, Investment in USAC, and All Other.

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Earnings History and Estimates for Energy Transfer (NYSE:ET)

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