Energy Transfer LP (NYSE:ET) Receives Consensus Rating of “Buy” from Analysts

Shares of Energy Transfer LP (NYSE:ET) have been assigned an average recommendation of “Buy” from the fourteen brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation, eleven have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $23.4545.

Several research firms have recently issued reports on ET. Stifel Nicolaus raised their price target on shares of Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Barclays reissued an “overweight” rating and issued a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 14th. Citigroup reaffirmed a “buy” rating and set a $23.00 target price (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 7th. JPMorgan Chase & Co. lifted their target price on Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Energy Transfer in a research report on Wednesday, May 6th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Basepoint Wealth LLC acquired a new position in Energy Transfer in the fourth quarter valued at approximately $25,000. Gables Capital Management Inc. lifted its stake in Energy Transfer by 60.0% in the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock valued at $26,000 after buying an additional 600 shares during the period. Sarver Vrooman Wealth Advisors acquired a new position in Energy Transfer in the fourth quarter valued at approximately $32,000. Financial Life Planners acquired a new position in Energy Transfer in the third quarter valued at approximately $34,000. Finally, Cassaday & Co Wealth Management LLC acquired a new position in Energy Transfer in the first quarter valued at approximately $35,000. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.5%

ET opened at $19.26 on Tuesday. Energy Transfer has a fifty-two week low of $16.18 and a fifty-two week high of $20.70. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.93 and a current ratio of 1.17. The company has a market capitalization of $66.28 billion, a P/E ratio of 16.05, a P/E/G ratio of 1.12 and a beta of 0.55. The stock has a fifty day moving average of $19.44 and a 200-day moving average of $18.19.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The company had revenue of $27.77 billion during the quarter, compared to analyst estimates of $25.78 billion. During the same period last year, the firm earned $0.36 EPS. The firm’s revenue for the quarter was up 32.1% compared to the same quarter last year. On average, equities analysts expect that Energy Transfer will post 1.41 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were issued a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a yield of 7.0%. The ex-dividend date was Friday, May 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio (DPR) is 112.50%.

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.