Citigroup Boosts Energy Transfer LP Unit (ET) Price Target to $19.50

Energy Transfer LP Unit (NYSE:ET) had its price target lifted by analysts at Citigroup from $16.00 to $19.50 in a research note issued to investors on Wednesday, May 8th, The Fly reports. The brokerage presently has a “buy” rating on the pipeline company’s stock. Citigroup‘s target price would suggest a potential upside of 41.92% from the company’s previous close.

ET has been the subject of several other research reports. Raymond James upgraded shares of Energy Transfer LP Unit from an “outperform” rating to a “strong-buy” rating in a research note on Tuesday, April 16th. Zacks Investment Research upgraded shares of Energy Transfer LP Unit from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Wednesday, April 17th. ValuEngine cut shares of Energy Transfer LP Unit from a “hold” rating to a “sell” rating in a research note on Monday, April 15th. Stifel Nicolaus reiterated a “buy” rating and issued a $20.00 price objective on shares of Energy Transfer LP Unit in a research note on Thursday, February 21st. Finally, TheStreet upgraded shares of Energy Transfer LP Unit from a “c+” rating to a “b” rating in a research note on Thursday, February 21st. One investment 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 company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $19.25.

NYSE ET opened at $13.74 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.81 and a debt-to-equity ratio of 1.52. The firm has a market capitalization of $37.69 billion, a P/E ratio of 11.95 and a beta of 1.71. Energy Transfer LP Unit has a 12 month low of $11.68 and a 12 month high of $19.19.

Energy Transfer LP Unit (NYSE:ET) last posted its earnings results on Wednesday, May 8th. The pipeline company reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.01. The firm had revenue of $13.12 billion for the quarter, compared to the consensus estimate of $14.39 billion. Energy Transfer LP Unit had a net margin of 4.03% and a return on equity of 7.61%. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, research analysts forecast that Energy Transfer LP Unit will post 1.36 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the business. Focused Wealth Management Inc purchased a new stake in shares of Energy Transfer LP Unit during the first quarter worth about $25,000. Assetmark Inc. purchased a new stake in shares of Energy Transfer LP Unit during the first quarter worth about $25,000. CLS Investments LLC purchased a new stake in shares of Energy Transfer LP Unit during the first quarter worth about $28,000. Golden State Wealth Management LLC purchased a new stake in shares of Energy Transfer LP Unit during the first quarter worth about $28,000. Finally, Pacific Center for Financial Services purchased a new stake in shares of Energy Transfer LP Unit during the first quarter worth about $30,000. Hedge funds and other institutional investors own 57.12% of the company’s stock.

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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