Energy Transfer LP (NYSE:ET) Receives $19.29 Average PT from Analysts

Shares of Energy Transfer LP (NYSE:ET) have been assigned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $19.29.

A number of research analysts recently commented on ET shares. Morgan Stanley upped their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. UBS Group upped their price target on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Stifel Nicolaus upped their price target on Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Mizuho upped their price target on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Finally, JPMorgan Chase & Co. upped their price target on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $16.33 on Tuesday. The business has a fifty day simple moving average of $15.76 and a 200 day simple moving average of $15.07. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $55.03 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 0.45 and a beta of 1.66. Energy Transfer has a one year low of $12.46 and a one year high of $16.48.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The firm had revenue of $21.63 billion during the quarter, compared to analyst estimates of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 earnings per share. Sell-side analysts expect that Energy Transfer will post 1.45 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were issued a dividend of $0.317 per share. This represents a $1.27 annualized dividend and a dividend yield of 7.76%. The ex-dividend date was Friday, May 10th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is presently 116.51%.

Institutional Trading of Energy Transfer

Several large investors have recently made changes to their positions in ET. Rehmann Capital Advisory Group boosted its holdings in Energy Transfer by 2.0% in the first quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock valued at $505,000 after acquiring an additional 633 shares during the last quarter. Sfmg LLC boosted its holdings in Energy Transfer by 2.2% in the first quarter. Sfmg LLC now owns 31,406 shares of the pipeline company’s stock valued at $494,000 after acquiring an additional 674 shares during the last quarter. FinTrust Capital Advisors LLC boosted its holdings in Energy Transfer by 3.6% in the first quarter. FinTrust Capital Advisors LLC now owns 20,201 shares of the pipeline company’s stock valued at $318,000 after acquiring an additional 700 shares during the last quarter. Essex Financial Services Inc. boosted its holdings in Energy Transfer by 2.2% in the first quarter. Essex Financial Services Inc. now owns 33,569 shares of the pipeline company’s stock valued at $528,000 after acquiring an additional 708 shares during the last quarter. Finally, Veracity Capital LLC boosted its holdings in Energy Transfer by 2.2% in the first quarter. Veracity Capital LLC now owns 32,916 shares of the pipeline company’s stock valued at $518,000 after acquiring an additional 713 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

About Energy Transfer

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.