Q2 2024 EPS Estimates for Energy Transfer LP (NYSE:ET) Reduced by US Capital Advisors

Energy Transfer LP (NYSE:ET) – Research analysts at US Capital Advisors lowered their Q2 2024 EPS estimates for shares of Energy Transfer in a report released on Tuesday, May 21st. US Capital Advisors analyst J. Carreker now expects that the pipeline company will post earnings per share of $0.26 for the quarter, down from their prior forecast of $0.28. The consensus estimate for Energy Transfer’s current full-year earnings is $1.54 per share. US Capital Advisors also issued estimates for Energy Transfer’s Q3 2024 earnings at $0.30 EPS, Q4 2024 earnings at $0.34 EPS, FY2024 earnings at $1.22 EPS, Q1 2025 earnings at $0.36 EPS, Q2 2025 earnings at $0.31 EPS, Q3 2025 earnings at $0.33 EPS, Q4 2025 earnings at $0.36 EPS, FY2025 earnings at $1.36 EPS and FY2026 earnings at $1.43 EPS.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.04). Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The company had revenue of $21.63 billion during the quarter, compared to analyst estimates of $20.91 billion. During the same quarter last year, the business earned $0.32 EPS. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis.

ET has been the subject of a number of other reports. Citigroup lifted their price target on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. UBS Group boosted their target price on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Mizuho restated a “buy” rating and issued a $19.00 target price (up from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. Finally, Stifel Nicolaus boosted their target price on shares of Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.43.

Energy Transfer Stock Performance

Shares of ET opened at $15.73 on Wednesday. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37. The stock has a market cap of $53.01 billion, a P/E ratio of 14.43 and a beta of 1.63. The company has a 50-day moving average of $15.74 and a two-hundred day moving average of $14.62. Energy Transfer has a 12-month low of $12.31 and a 12-month high of $16.40.

Hedge Funds Weigh In On Energy Transfer

Several institutional investors have recently modified their holdings of ET. Bank of New York Mellon Corp lifted its holdings in Energy Transfer by 7.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 77,753 shares of the pipeline company’s stock valued at $1,091,000 after acquiring an additional 5,174 shares during the last quarter. M&T Bank Corp lifted its holdings in Energy Transfer by 2.5% in the 3rd quarter. M&T Bank Corp now owns 154,204 shares of the pipeline company’s stock valued at $2,163,000 after acquiring an additional 3,720 shares during the last quarter. Private Advisor Group LLC lifted its holdings in Energy Transfer by 6.3% in the 3rd quarter. Private Advisor Group LLC now owns 381,948 shares of the pipeline company’s stock valued at $5,349,000 after acquiring an additional 22,759 shares during the last quarter. SageView Advisory Group LLC lifted its holdings in Energy Transfer by 4.4% in the 3rd quarter. SageView Advisory Group LLC now owns 28,532 shares of the pipeline company’s stock valued at $400,000 after acquiring an additional 1,196 shares during the last quarter. Finally, Bahl & Gaynor Inc. lifted its holdings in Energy Transfer by 15.2% in the 3rd quarter. Bahl & Gaynor Inc. now owns 227,800 shares of the pipeline company’s stock valued at $3,196,000 after acquiring an additional 30,000 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were given a dividend of $0.317 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.27 annualized dividend and a dividend yield of 8.06%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 116.51%.

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.