Energy Transfer LP (NYSE:ET – Get Free Report) 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.
Read Our Latest Research Report on ET
Insiders Place Their Bets
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 – Get Free Report) 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.
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