Q3 2024 EPS Estimates for Energy Transfer LP (NYSE:ET) Cut by Analyst

Energy Transfer LP (NYSE:ET) – Research analysts at US Capital Advisors reduced their Q3 2024 earnings per share estimates for shares of Energy Transfer in a report released on Wednesday, August 21st. US Capital Advisors analyst J. Carreker now expects that the pipeline company will earn $0.29 per share for the quarter, down from their previous forecast of $0.34. The consensus estimate for Energy Transfer’s current full-year earnings is $1.49 per share. US Capital Advisors also issued estimates for Energy Transfer’s Q4 2024 earnings at $0.33 EPS, FY2024 earnings at $1.29 EPS, Q1 2025 earnings at $0.35 EPS, Q2 2025 earnings at $0.28 EPS, Q3 2025 earnings at $0.30 EPS, Q4 2025 earnings at $0.36 EPS, FY2025 earnings at $1.29 EPS and FY2026 earnings at $1.36 EPS.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The business had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $22.01 billion. During the same quarter in the prior year, the business earned $0.25 EPS. Energy Transfer’s revenue for the quarter was up 13.1% compared to the same quarter last year.

ET has been the subject of several other reports. JPMorgan Chase & Co. upped 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. Stifel Nicolaus increased their target price on Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Mizuho boosted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. UBS Group increased their price objective on shares of Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Finally, Morgan Stanley raised their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.29.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $16.15 on Monday. The firm has a market capitalization of $54.43 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 0.42 and a beta of 1.66. Energy Transfer has a one year low of $12.90 and a one year high of $16.50. The company’s fifty day moving average price is $16.06 and its 200-day moving average price is $15.63. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00.

Institutional Investors Weigh In On Energy Transfer

Hedge funds and other institutional investors have recently modified their holdings of the company. Berkley W R Corp lifted its holdings in shares of Energy Transfer by 11.6% during the first quarter. Berkley W R Corp now owns 5,334,494 shares of the pipeline company’s stock worth $83,912,000 after purchasing an additional 555,445 shares during the period. NBC Securities Inc. increased its stake in shares of Energy Transfer by 4.3% during the 1st quarter. NBC Securities Inc. now owns 56,366 shares of the pipeline company’s stock valued at $886,000 after acquiring an additional 2,326 shares during the last quarter. US Bancorp DE raised its stake in Energy Transfer by 95.8% during the fourth quarter. US Bancorp DE now owns 145,894 shares of the pipeline company’s stock worth $2,013,000 after purchasing an additional 71,386 shares during the period. Savant Capital LLC boosted its holdings in Energy Transfer by 19.7% in the fourth quarter. Savant Capital LLC now owns 26,335 shares of the pipeline company’s stock valued at $363,000 after acquiring an additional 4,340 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in Energy Transfer by 491.3% during the 1st quarter. Cetera Investment Advisers now owns 1,290,364 shares of the pipeline company’s stock worth $20,297,000 after purchasing an additional 1,072,144 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Energy Transfer

In related news, Director Kelcy L. Warren bought 3,000,000 shares of the stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the acquisition, the director now directly owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Thomas E. Long acquired 20,000 shares of the company’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 purchase, the chief executive officer now owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kelcy L. Warren purchased 3,000,000 shares of Energy Transfer stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the transaction, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. The disclosure for this purchase can be found here. 3.28% of the stock is currently owned by corporate insiders.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 7.93%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, August 9th. Energy Transfer’s dividend payout ratio is presently 117.43%.

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.