Energy Transfer LP (NYSE:ET) Receives Average Rating of “Buy” from Analysts

Shares of Energy Transfer LP (NYSE:ET) have been given an average rating of “Buy” by the fourteen brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, eleven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $23.4545.

Several equities analysts recently commented on the company. UBS Group restated a “buy” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. TD Cowen reiterated a “buy” rating and issued a $23.00 price target (up from $22.00) on shares of Energy Transfer in a research report on Wednesday, May 13th. Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a research note on Friday, June 5th. Finally, Truist Financial began coverage on Energy Transfer in a report on Tuesday, March 24th. They set a “buy” rating and a $23.00 price objective for the company.

Hedge Funds Weigh In On Energy Transfer

Several institutional investors have recently added to or reduced their stakes in ET. Keybank National Association OH grew its stake in Energy Transfer by 0.3% during the first quarter. Keybank National Association OH now owns 219,232 shares of the pipeline company’s stock worth $4,231,000 after buying an additional 556 shares during the last quarter. Mountain Capital Investment Advisors Inc. raised its stake in shares of Energy Transfer by 4.9% in the fourth quarter. Mountain Capital Investment Advisors Inc. now owns 12,007 shares of the pipeline company’s stock valued at $216,000 after acquiring an additional 560 shares during the last quarter. Marks Wealth LLC raised its stake in shares of Energy Transfer by 4.7% in the fourth quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company’s stock valued at $207,000 after acquiring an additional 560 shares during the last quarter. Citizens Financial Group Inc. RI grew its position in Energy Transfer by 2.4% during the 1st quarter. Citizens Financial Group Inc. RI now owns 23,978 shares of the pipeline company’s stock worth $463,000 after acquiring an additional 562 shares during the last quarter. Finally, Avos Capital Management LLC grew its position in Energy Transfer by 0.8% during the 4th quarter. Avos Capital Management LLC now owns 76,695 shares of the pipeline company’s stock worth $1,265,000 after acquiring an additional 583 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

Energy Transfer Stock Performance

NYSE:ET opened at $19.32 on Friday. The firm has a market capitalization of $66.47 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 1.12 and a beta of 0.55. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.50. Energy Transfer has a 12-month low of $16.18 and a 12-month high of $20.70. The firm has a 50-day moving average price of $19.46 and a 200 day moving average price of $18.59.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The company had revenue of $27.77 billion for the quarter, compared to analyst estimates of $25.78 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. The firm’s revenue for the quarter was up 32.1% compared to the same quarter last year. Research analysts anticipate that Energy Transfer will post 1.43 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a dividend of $0.3375 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, May 8th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 7.0%. Energy Transfer’s dividend payout ratio is 112.50%.

About Energy Transfer

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.