Energy Transfer LP (NYSE:ET) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Energy Transfer LP (NYSE:ET) have earned an average recommendation of “Moderate Buy” from the fourteen brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $21.75.

A number of research analysts recently issued reports on ET shares. JPMorgan Chase & Co. decreased their target price on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Monday, November 24th. Morgan Stanley reduced their price target on Energy Transfer from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 2nd. UBS Group reissued a “buy” rating and set a $22.00 price objective on shares of Energy Transfer in a research report on Wednesday, October 15th. Royal Bank Of Canada upgraded shares of Energy Transfer to a “moderate buy” rating in a research note on Monday, December 15th. Finally, Scotiabank decreased their price target on shares of Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating for the company in a research note on Thursday, November 13th.

Energy Transfer Price Performance

Energy Transfer stock opened at $16.59 on Friday. The company’s 50 day simple moving average is $16.61 and its 200-day simple moving average is $17.14. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.14 and a current ratio of 1.41. Energy Transfer has a 1 year low of $14.60 and a 1 year high of $21.45. The company has a market capitalization of $56.95 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 0.86 and a beta of 0.66.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.06). Energy Transfer had a net margin of 5.66% and a return on equity of 10.71%. The company had revenue of $19.95 billion during the quarter, compared to analyst estimates of $21.84 billion. During the same quarter last year, the business posted $0.32 EPS. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. As a group, equities research analysts expect that Energy Transfer will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th were issued a dividend of $0.3325 per share. The ex-dividend date of this dividend was Friday, November 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 dividend on an annualized basis and a yield of 8.0%. Energy Transfer’s dividend payout ratio is 106.40%.

Insider Buying and Selling

In other news, Director Kelcy L. Warren bought 1,000,000 shares of the business’s stock in a transaction dated Wednesday, November 19th. The shares were acquired at an average price of $16.95 per share, for a total transaction of $16,950,000.00. Following the completion of the transaction, the director owned 104,577,803 shares of the company’s stock, valued at approximately $1,772,593,760.85. This trade represents a 0.97% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Energy Transfer

Institutional investors and hedge funds have recently made changes to their positions in the business. Global Wealth Strategies & Associates increased its position in Energy Transfer by 196.4% in the 4th quarter. Global Wealth Strategies & Associates now owns 2,964 shares of the pipeline company’s stock valued at $49,000 after acquiring an additional 1,964 shares during the period. Strategic Investment Solutions Inc. IL increased its holdings in shares of Energy Transfer by 24.1% in the third quarter. Strategic Investment Solutions Inc. IL now owns 7,085 shares of the pipeline company’s stock valued at $122,000 after purchasing an additional 1,376 shares during the period. Allworth Financial LP raised its stake in shares of Energy Transfer by 6.1% during the third quarter. Allworth Financial LP now owns 155,006 shares of the pipeline company’s stock worth $2,660,000 after purchasing an additional 8,886 shares during the last quarter. Stillwater Wealth Management Group acquired a new stake in shares of Energy Transfer during the third quarter worth $314,000. Finally, Investment Research Partners LLC purchased a new position in Energy Transfer in the 3rd quarter valued at $206,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

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.