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

Energy Transfer LP (NYSE:ET) has been given a consensus rating of “Buy” by the fourteen brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, eleven have given a buy recommendation and two have assigned 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.

A number of equities research analysts have commented on ET shares. Truist Financial started coverage on shares of Energy Transfer in a report on Tuesday, March 24th. They set a “buy” rating and a $23.00 price objective on the stock. TD Cowen reiterated a “buy” rating and issued a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research report on Wednesday, May 13th. Wells Fargo & Company lifted their price objective on Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, March 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a research report on Friday, June 5th. Finally, Stifel Nicolaus lifted their price objective on Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th.

Energy Transfer Trading Down 0.1%

Shares of ET stock opened at $19.16 on Friday. Energy Transfer has a 1 year low of $16.18 and a 1 year high of $20.70. The firm’s fifty day simple moving average is $19.44 and its 200 day simple moving average is $18.50. The firm has a market capitalization of $65.95 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 1.11 and a beta of 0.55. The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The business had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $25.78 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The business’s revenue was up 32.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.36 EPS. As a group, sell-side analysts predict that Energy Transfer will post 1.43 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a $0.3375 dividend. The ex-dividend date was Friday, May 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 dividend on an annualized basis and a yield of 7.0%. Energy Transfer’s dividend payout ratio is 112.50%.

Institutional Trading of Energy Transfer

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Texas Yale Capital Corp. boosted its stake in shares of Energy Transfer by 6.1% during the fourth quarter. Texas Yale Capital Corp. now owns 1,311,965 shares of the pipeline company’s stock valued at $21,634,000 after purchasing an additional 75,700 shares during the period. North Star Investment Management Corp. boosted its stake in shares of Energy Transfer by 100.1% during the fourth quarter. North Star Investment Management Corp. now owns 161,523 shares of the pipeline company’s stock valued at $2,664,000 after purchasing an additional 80,786 shares during the period. Avior Wealth Management LLC boosted its stake in shares of Energy Transfer by 436.6% during the fourth quarter. Avior Wealth Management LLC now owns 90,160 shares of the pipeline company’s stock valued at $1,487,000 after purchasing an additional 73,359 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Energy Transfer by 2.6% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,898,420 shares of the pipeline company’s stock valued at $375,777,000 after purchasing an additional 544,944 shares during the period. Finally, U.S. Capital Wealth Advisors LLC boosted its stake in shares of Energy Transfer by 9.1% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 1,560,110 shares of the pipeline company’s stock valued at $25,726,000 after purchasing an additional 129,489 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

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.