Energy Transfer LP (NYSE:ET) Receives $23.50 Average Target Price from Analysts

Shares of Energy Transfer LP (NYSE:ET) have been given an average rating of “Buy” by the fifteen research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, eleven have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $23.50.

Several research firms have recently commented on ET. Jefferies Financial Group upgraded shares of Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Tuesday, May 26th. Citigroup restated a “buy” rating and set a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research note on Tuesday. Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a report on Friday, June 5th. Finally, JPMorgan Chase & Co. boosted their price target on Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th.

Institutional Investors Weigh In On Energy Transfer

Institutional investors have recently bought and sold shares of the stock. Basepoint Wealth LLC purchased a new position in Energy Transfer during the fourth quarter worth approximately $25,000. Gables Capital Management Inc. increased its holdings in shares of Energy Transfer by 60.0% during the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after buying an additional 600 shares during the last quarter. Sarver Vrooman Wealth Advisors acquired a new stake in shares of Energy Transfer during the 4th quarter worth $32,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Energy Transfer in the 1st quarter worth $35,000. Finally, Navalign LLC purchased a new position in shares of Energy Transfer in the 4th quarter worth $37,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

More Energy Transfer News

Here are the key news stories impacting Energy Transfer this week:

• Positive Sentiment: ET was featured as a low-beta stock that can help reduce portfolio risk, with stable fee-based revenues and growth projects supporting its defensive appeal. 3 Low-Beta Stocks to Minimize Portfolio Risk: LQDA, ET & PBF
• Positive Sentiment: Analysts and market commentary say Energy Transfer may be undervalued after raising EBITDA guidance, which could support the stock’s upside potential. Energy Transfer (ET) Could Be 13% Undervalued Following Raised EBITDA Guidance
• Positive Sentiment: The company affirmed its income appeal by announcing a quarterly cash distribution on Series I preferred units, signaling continued cash returns to investors. Energy Transfer LP Announces Cash Distribution on Series I Preferred Units
• Positive Sentiment: ET is being highlighted as a high-yield stock with strong analyst support and room to run, reinforcing investor interest in the name. 5 High-Yield Stocks With Analyst Support and Room to Run
• Neutral Sentiment: Several articles note that Zacks users have been searching for ET more frequently, suggesting rising attention but not a clear fundamental catalyst. Energy Transfer LP (ET) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: ET was also mentioned in broader industry pieces on pipeline MLPs and dividend stocks, which support the bullish case but do not add a company-specific catalyst. 3 Oil Pipeline MLP Stocks Riding on Favorable Industry Trends

Energy Transfer Price Performance

Energy Transfer stock opened at $20.38 on Wednesday. The firm has a market capitalization of $70.11 billion, a PE ratio of 16.98, a P/E/G ratio of 1.18 and a beta of 0.55. Energy Transfer has a 52 week low of $16.18 and a 52 week high of $20.70. The firm’s 50-day simple moving average is $19.55 and its 200 day simple moving average is $18.97. 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 (NYSE:ET) last posted its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.05). The business had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $25.78 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The business’s revenue was up 32.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 earnings per share. On average, equities research analysts predict that Energy Transfer will post 1.43 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were paid a $0.3375 dividend. The ex-dividend date was Friday, May 8th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a yield of 6.6%. Energy Transfer’s payout ratio is currently 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.