Analysts Set Energy Transfer LP (NYSE:ET) PT at $22.58

Energy Transfer LP (NYSE:ET) has been given an average recommendation of “Moderate Buy” by the thirteen ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $22.5833.

ET has been the topic of several research reports. TD Cowen initiated coverage on shares of Energy Transfer in a report on Monday, July 7th. They issued a “buy” rating and a $22.00 price target on the stock. Cowen initiated coverage on shares of Energy Transfer in a report on Monday, July 7th. They issued a “buy” rating on the stock. Wells Fargo & Company cut their price target on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. JPMorgan Chase & Co. cut their price target on shares of Energy Transfer from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, May 19th. Finally, Mizuho increased their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, May 20th.

Insider Buying and Selling

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of the company’s stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $18.48, for a total value of $25,299.12. Following the sale, the director owned 24,523 shares in the company, valued at approximately $453,185.04. This represents a 5.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Energy Transfer

Hedge funds have recently bought and sold shares of the stock. Capital A Wealth Management LLC purchased a new stake in Energy Transfer in the 4th quarter worth approximately $26,000. Fourth Dimension Wealth LLC purchased a new position in shares of Energy Transfer during the 4th quarter valued at approximately $29,000. Ryan Investment Management Inc. purchased a new position in shares of Energy Transfer during the 2nd quarter valued at approximately $31,000. Vision Financial Markets LLC purchased a new position in shares of Energy Transfer during the 1st quarter valued at approximately $33,000. Finally, CNB Bank lifted its position in shares of Energy Transfer by 111.1% during the 2nd quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock valued at $34,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

ET opened at $17.28 on Wednesday. Energy Transfer has a 52-week low of $14.60 and a 52-week high of $21.45. The company has a quick ratio of 0.92, a current ratio of 1.12 and a debt-to-equity ratio of 1.41. The company has a market cap of $59.30 billion, a P/E ratio of 13.40, a price-to-earnings-growth ratio of 0.91 and a beta of 0.83. The firm’s 50-day moving average price is $17.79 and its 200-day moving average price is $18.14.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.80% and a return on equity of 11.07%. The firm had revenue of $19.24 billion for the quarter, compared to the consensus estimate of $24.07 billion. During the same quarter in the prior year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, equities analysts anticipate that Energy Transfer will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th will be given a $0.33 dividend. The ex-dividend date is Friday, August 8th. This represents a $1.32 annualized dividend and a yield of 7.6%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is currently 101.55%.

About Energy Transfer

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.