Brokerages Set Energy Transfer LP (NYSE:ET) Price Target at $22.08

Energy Transfer LP (NYSE:ET) has received an average rating of “Moderate Buy” from the fifteen analysts that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $22.0769.

ET has been the subject of several research reports. Jefferies Financial Group set a $17.00 price target on shares of Energy Transfer and gave the company a “hold” rating in a report on Tuesday, October 28th. UBS Group reaffirmed a “buy” rating and set a $22.00 target price on shares of Energy Transfer in a report on Wednesday, October 15th. Barclays reiterated an “overweight” rating and set a $25.00 price target on shares of Energy Transfer in a research report on Wednesday, October 15th. Scotiabank reduced their price objective on Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating for the company in a research report on Thursday, November 13th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th.

Energy Transfer Stock Performance

ET stock opened at $16.97 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. The firm has a market cap of $58.27 billion, a P/E ratio of 13.16, a P/E/G ratio of 1.01 and a beta of 0.76. Energy Transfer has a 12-month low of $14.60 and a 12-month high of $21.45. The stock’s 50 day simple moving average is $16.94 and its 200 day simple moving average is $17.41.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The business had revenue of $19.95 billion during the quarter, compared to analyst estimates of $21.84 billion. During the same period in the prior year, the firm earned $0.32 EPS. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, equities research analysts predict that Energy Transfer will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Friday, November 7th will be given a $0.3325 dividend. The ex-dividend date is Friday, November 7th. This represents a $1.33 annualized dividend and a yield of 7.8%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is 106.40%.

Institutional Investors Weigh In On Energy Transfer

Large investors have recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in Energy Transfer by 93.4% in the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock worth $481,000 after buying an additional 11,844 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Energy Transfer by 20.0% in the first quarter. Bank of New York Mellon Corp now owns 134,509 shares of the pipeline company’s stock worth $2,501,000 after purchasing an additional 22,457 shares in the last quarter. Bleakley Financial Group LLC increased its holdings in shares of Energy Transfer by 2.9% during the first quarter. Bleakley Financial Group LLC now owns 23,487 shares of the pipeline company’s stock valued at $437,000 after purchasing an additional 669 shares during the period. General American Investors Co. Inc. increased its holdings in shares of Energy Transfer by 4,992.5% during the first quarter. General American Investors Co. Inc. now owns 1,020,030 shares of the pipeline company’s stock valued at $18,962,000 after purchasing an additional 1,000,000 shares during the period. Finally, FLC Capital Advisors raised its stake in shares of Energy Transfer by 4.2% during the first quarter. FLC Capital Advisors now owns 19,793 shares of the pipeline company’s stock valued at $368,000 after purchasing an additional 793 shares in the last quarter. 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.