Zacks: Brokerages Anticipate Energy Transfer LP (NYSE:ET) Will Announce Quarterly Sales of $22.08 Billion

Wall Street brokerages expect Energy Transfer LP (NYSE:ETGet Rating) to announce $22.08 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Energy Transfer’s earnings, with estimates ranging from $21.97 billion to $22.19 billion. Energy Transfer reported sales of $15.10 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 46.2%. The business is scheduled to report its next earnings results on Monday, January 1st.

On average, analysts expect that Energy Transfer will report full-year sales of $87.74 billion for the current financial year, with estimates ranging from $87.18 billion to $88.30 billion. For the next fiscal year, analysts expect that the firm will report sales of $89.47 billion, with estimates ranging from $87.35 billion to $91.59 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Energy Transfer.

Energy Transfer (NYSE:ETGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.12. Energy Transfer had a net margin of 4.58% and a return on equity of 10.25%. The company had revenue of $20.49 billion for the quarter, compared to analysts’ expectations of $18.79 billion. During the same quarter in the previous year, the company earned $1.14 earnings per share. Energy Transfer’s quarterly revenue was up 20.6% on a year-over-year basis.

Several equities research analysts recently commented on ET shares. Zacks Investment Research raised shares of Energy Transfer from a “hold” rating to a “strong-buy” rating and set a $13.00 price objective on the stock in a research note on Wednesday, March 30th. Mizuho boosted their price objective on shares of Energy Transfer from $13.00 to $14.00 in a research note on Friday, February 18th. Raymond James boosted their price objective on shares of Energy Transfer from $13.00 to $14.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 17th. Finally, Morgan Stanley boosted their price objective on shares of Energy Transfer from $12.00 to $15.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 26th. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $14.00.

In related news, Director Michael K. Grimm acquired 504,600 shares of the firm’s stock in a transaction dated Wednesday, April 6th. The stock was purchased at an average cost of $11.21 per share, with a total value of $5,656,566.00. Following the completion of the acquisition, the director now directly owns 181,089 shares of the company’s stock, valued at $2,030,007.69. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.28% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the business. Carl Stuart Investment Advisor Inc. purchased a new stake in Energy Transfer during the first quarter valued at approximately $27,000. Total Clarity Wealth Management Inc. increased its holdings in Energy Transfer by 43.9% during the fourth quarter. Total Clarity Wealth Management Inc. now owns 3,382 shares of the pipeline company’s stock valued at $28,000 after buying an additional 1,032 shares during the last quarter. Retirement Group LLC increased its holdings in Energy Transfer by 40.8% during the first quarter. Retirement Group LLC now owns 3,450 shares of the pipeline company’s stock valued at $39,000 after buying an additional 1,000 shares during the last quarter. Wagner Wealth Management LLC increased its holdings in Energy Transfer by 161.7% during the third quarter. Wagner Wealth Management LLC now owns 4,020 shares of the pipeline company’s stock valued at $38,000 after buying an additional 2,484 shares during the last quarter. Finally, CWM LLC purchased a new stake in Energy Transfer during the fourth quarter valued at approximately $35,000. 48.40% of the stock is owned by institutional investors and hedge funds.

NYSE:ET opened at $11.11 on Friday. Energy Transfer has a one year low of $7.96 and a one year high of $12.48. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.14 and a quick ratio of 1.00. The company’s 50-day simple moving average is $11.05 and its 200 day simple moving average is $9.89. The firm has a market capitalization of $34.28 billion, a P/E ratio of 10.48 and a beta of 1.93.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 19th. Stockholders of record on Monday, May 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 7.20%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, May 6th. Energy Transfer’s payout ratio is presently 75.47%.

Energy Transfer Company Profile (Get Rating)

Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,830 miles of interstate natural gas pipeline.

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

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