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

Shares of Energy Transfer LP (NYSE:ET) have received a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $21.50.

Several research analysts recently weighed in on the company. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Wednesday, January 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Energy Transfer in a report on Wednesday, December 24th. 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 cut their price target on shares of Energy Transfer from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Tuesday, December 2nd. Finally, Royal Bank Of Canada upgraded shares of Energy Transfer to a “moderate buy” rating in a research note on Monday, December 15th.

Energy Transfer Price Performance

ET opened at $17.93 on Wednesday. Energy Transfer has a 1 year low of $14.60 and a 1 year high of $21.16. The company’s 50 day simple moving average is $16.78 and its 200 day simple moving average is $17.07. The stock has a market capitalization of $61.56 billion, a PE ratio of 14.34, a P/E/G ratio of 0.94 and a beta of 0.66. 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 (NYSE:ET) last issued its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.06). The company had revenue of $19.95 billion for the quarter, compared to analyst estimates of $21.84 billion. Energy Transfer had a return on equity of 10.71% and a net margin of 5.66%.The business’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period last year, the company posted $0.32 EPS. As a group, sell-side analysts expect that Energy Transfer will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Friday, February 6th will be issued a $0.335 dividend. The ex-dividend date is Friday, February 6th. This represents a $1.34 annualized dividend and a yield of 7.5%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is currently 106.40%.

Insider Buying and Selling

In related news, Director Kelcy L. Warren acquired 1,000,000 shares of Energy Transfer stock in a transaction on Wednesday, November 19th. The shares were bought at an average price of $16.95 per share, for a total transaction of $16,950,000.00. Following the completion of the purchase, the director directly owned 104,577,803 shares in the company, valued at $1,772,593,760.85. This trade represents a 0.97% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On Energy Transfer

Several hedge funds have recently modified their holdings of the stock. CNB Bank grew its stake in Energy Transfer by 111.1% during the 2nd quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 1,000 shares in the last quarter. Financial Life Planners acquired a new stake in shares of Energy Transfer during the third quarter worth approximately $34,000. HHM Wealth Advisors LLC increased its stake in shares of Energy Transfer by 54.4% in the second quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock worth $41,000 after buying an additional 800 shares during the last quarter. Core Alternative Capital acquired a new stake in Energy Transfer in the third quarter valued at $46,000. Finally, Global Wealth Strategies & Associates raised its holdings in Energy Transfer by 196.4% in the fourth 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 in the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Company Profile

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.