Energy Transfer LP (NYSE:ET) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Energy Transfer LP (NYSE:ET) has received a consensus rating of “Moderate Buy” from the fourteen analysts that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $22.50.

Several brokerages have recently commented on ET. Scotiabank began coverage on Energy Transfer in a research note on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 price target on the stock. Cowen began coverage on Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $23.00 price target (up previously from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. TD Cowen began coverage on Energy Transfer in a research note on Monday, July 7th. They set a “buy” rating and a $22.00 target price on the stock. Finally, Morgan Stanley decreased their target price on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 26th.

Energy Transfer Stock Performance

Shares of Energy Transfer stock opened at $17.40 on Thursday. Energy Transfer has a 52 week low of $14.60 and a 52 week high of $21.45. The business’s fifty day simple moving average is $17.52 and its 200-day simple moving average is $17.60. The firm has a market cap of $59.71 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 1.01 and a beta of 0.85. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The business had revenue of $19.24 billion for the quarter, compared to analyst estimates of $24.07 billion. During the same quarter in the prior year, the company posted $0.35 EPS. The company’s quarterly revenue was down 7.2% on a year-over-year basis. Equities analysts forecast that Energy Transfer will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 7.6%. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is currently 102.33%.

Insider Transactions at Energy Transfer

In other news, Director Kelcy L. Warren bought 1,350,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were purchased at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the purchase, the director owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. The trade was a 1.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Energy Transfer

Hedge funds have recently bought and sold shares of the company. Strong Tower Advisory Services acquired a new position in Energy Transfer during the 1st quarter worth about $2,604,000. Prevail Innovative Wealth Advisors LLC raised its position in Energy Transfer by 316.9% in the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 117,312 shares of the pipeline company’s stock valued at $2,181,000 after purchasing an additional 89,173 shares in the last quarter. Northern Trust Corp raised its position in Energy Transfer by 223.5% in the 1st quarter. Northern Trust Corp now owns 1,069,534 shares of the pipeline company’s stock valued at $19,883,000 after purchasing an additional 738,885 shares in the last quarter. Appaloosa LP raised its position in Energy Transfer by 0.9% in the 1st quarter. Appaloosa LP now owns 4,957,235 shares of the pipeline company’s stock valued at $92,155,000 after purchasing an additional 42,500 shares in the last quarter. Finally, Commerce Bank acquired a new stake in Energy Transfer in the 1st quarter valued at about $92,607,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Company Profile

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.