Energy Transfer Partners (NYSE:ETP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday.
According to Zacks, “Energy Transfer Partners is well poised to grow on the back of its geographically dispersed asset mix. ETP is reaping rewards from its major projects including Rover Pipeline, Bakken Pipeline and Permian Express 3 which are expected to strengthen the growth momentum of the partnership in the future. Further, Sunoco’s merger with Energy Transfer has boosted the growth and value of the partnership and is likely to lead to $200 million of cost savings by 2019. Acquisition of PennTex is also expected to provide additional long term opportunities to ETP. We also like ETP's growing cash distribution which witnessed a year-over-year increase of over 40% in the recent quarter. However, we need to factor the high debt, declining unit price and the opposition which ETP's Dakota Access Pipeline is facing from the environmentalists. As such, we take a cautious stance on the prospects of the stock.”
Several other analysts also recently issued reports on ETP. BMO Capital Markets reissued a “hold” rating and issued a $23.00 price objective on shares of Energy Transfer Partners in a research note on Wednesday, October 18th. Mizuho set a $26.00 price objective on shares of Energy Transfer Partners and gave the stock a “buy” rating in a research note on Sunday, October 15th. Bank of America assumed coverage on shares of Energy Transfer Partners in a research note on Tuesday, January 9th. They issued a “buy” rating for the company. ValuEngine raised shares of Energy Transfer Partners from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Credit Suisse Group assumed coverage on shares of Energy Transfer Partners in a research note on Thursday, January 4th. They issued an “outperform” rating and a $20.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $25.86.
Energy Transfer Partners (NYSE:ETP) last announced its quarterly earnings results on Tuesday, November 7th. The pipeline company reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.11. Energy Transfer Partners had a net margin of 4.97% and a return on equity of 5.88%. The firm had revenue of $6.97 billion during the quarter, compared to the consensus estimate of $7.31 billion. During the same quarter last year, the firm earned ($0.49) EPS. The firm’s revenue for the quarter was up 26.1% compared to the same quarter last year. equities research analysts predict that Energy Transfer Partners will post 0.66 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the company. Archford Capital Strategies LLC increased its position in shares of Energy Transfer Partners by 636.0% during the second quarter. Archford Capital Strategies LLC now owns 5,115 shares of the pipeline company’s stock worth $397,000 after acquiring an additional 4,420 shares during the period. Cerebellum GP LLC purchased a new position in Energy Transfer Partners during the fourth quarter valued at approximately $127,000. Exane Derivatives increased its holdings in Energy Transfer Partners by 15,645.8% during the fourth quarter. Exane Derivatives now owns 7,558 shares of the pipeline company’s stock valued at $135,000 after buying an additional 7,510 shares during the period. Toronto Dominion Bank increased its holdings in Energy Transfer Partners by 50.0% during the second quarter. Toronto Dominion Bank now owns 8,250 shares of the pipeline company’s stock valued at $168,000 after buying an additional 2,750 shares during the period. Finally, B. Riley Financial Inc. purchased a new position in Energy Transfer Partners during the third quarter valued at approximately $185,000. 61.78% of the stock is currently owned by institutional investors and hedge funds.
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About Energy Transfer Partners
Energy Transfer Partners, L.P., formerly Sunoco Logistics Partners L.P., owns and operates a logistics business. The Company is engaged in the transport, terminaling and storage of crude oil, refined products and natural gas liquids (NGLs). The Company’s segments include Crude Oil, Natural Gas Liquids and Refined Products.
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