Brokers Issue Forecasts for Energy Transfer FY2024 Earnings

Energy Transfer LP (NYSE:ET) – Equities researchers at US Capital Advisors raised their FY2024 earnings estimates for shares of Energy Transfer in a research report issued on Monday, February 3rd. US Capital Advisors analyst J. Carreker now expects that the pipeline company will post earnings per share of $1.32 for the year, up from their previous estimate of $1.31. The consensus estimate for Energy Transfer’s current full-year earnings is $1.36 per share.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same quarter in the previous year, the firm posted $0.31 earnings per share. Energy Transfer’s quarterly revenue was up .2% on a year-over-year basis.

Several other equities analysts have also recently issued reports on the company. The Goldman Sachs Group upped their price objective on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Wells Fargo & Company increased their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Bank of America started coverage on Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target for the company. Barclays lifted their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, Royal Bank of Canada raised their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and an average target price of $20.82.

Energy Transfer Stock Performance

Shares of ET opened at $20.37 on Wednesday. Energy Transfer has a 52 week low of $13.79 and a 52 week high of $21.45. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The stock has a market cap of $69.76 billion, a P/E ratio of 14.98, a P/E/G ratio of 0.54 and a beta of 1.69. The business’s 50 day moving average price is $19.69 and its 200-day moving average price is $17.59.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be paid a $0.325 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 6.38%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is 94.85%.

Institutional Trading of Energy Transfer

Institutional investors and hedge funds have recently made changes to their positions in the company. Sei Investments Co. lifted its holdings in Energy Transfer by 77.4% during the second quarter. Sei Investments Co. now owns 46,063 shares of the pipeline company’s stock worth $747,000 after buying an additional 20,093 shares during the period. Fulton Bank N.A. raised its position in shares of Energy Transfer by 26.5% in the 3rd quarter. Fulton Bank N.A. now owns 32,172 shares of the pipeline company’s stock worth $516,000 after acquiring an additional 6,735 shares in the last quarter. Axiom Advisory LLC lifted its stake in shares of Energy Transfer by 3.6% during the 3rd quarter. Axiom Advisory LLC now owns 35,466 shares of the pipeline company’s stock worth $571,000 after purchasing an additional 1,248 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its position in Energy Transfer by 5.6% during the third quarter. Dynamic Advisor Solutions LLC now owns 137,660 shares of the pipeline company’s stock valued at $2,209,000 after purchasing an additional 7,344 shares in the last quarter. Finally, Atomi Financial Group Inc. grew its stake in Energy Transfer by 11.8% in the third quarter. Atomi Financial Group Inc. now owns 32,840 shares of the pipeline company’s stock valued at $527,000 after purchasing an additional 3,472 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

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.