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

Energy Transfer LP (NYSE:ET) has received an average rating of “Buy” from the six analysts that are covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have covered the stock in the last year is $20.00.

A number of research firms have recently issued reports on ET. JPMorgan Chase & Co. lifted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. UBS Group lifted their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Mizuho raised their target price on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th.

Insiders Place Their Bets

In other news, CEO Thomas E. Long acquired 20,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 4,308,859 shares in the company, valued at $67,562,909.12. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Energy Transfer news, Director Kelcy L. Warren bought 3,000,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the acquisition, the director now owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas E. Long purchased 20,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 3,040,000 shares of company stock valued at $47,667,200 in the last ninety days. Corporate insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Energy Transfer

Several institutional investors and hedge funds have recently bought and sold shares of ET. LRI Investments LLC acquired a new stake in Energy Transfer in the first quarter worth $29,000. HWG Holdings LP acquired a new stake in shares of Energy Transfer in the 2nd quarter worth about $33,000. Sugarloaf Wealth Management LLC lifted its position in Energy Transfer by 43.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 750 shares during the last quarter. Ables Iannone Moore & Associates Inc. acquired a new position in Energy Transfer during the 4th quarter valued at about $34,000. Finally, Hudson Edge Investment Partners Inc. bought a new position in Energy Transfer in the 2nd quarter worth about $42,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.6 %

Shares of NYSE ET opened at $16.26 on Thursday. The stock has a fifty day moving average price of $16.03 and a 200 day moving average price of $15.90. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38. Energy Transfer has a 12-month low of $12.90 and a 12-month high of $16.50. The company has a market cap of $54.80 billion, a P/E ratio of 14.92, a P/E/G ratio of 0.50 and a beta of 1.66.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The company had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. Energy Transfer’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 EPS. Research analysts anticipate that Energy Transfer will post 1.35 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, August 9th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a yield of 7.87%. Energy Transfer’s dividend payout ratio is currently 117.43%.

Energy Transfer Company Profile

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.