Brokers Issue Forecasts for Energy Transfer FY2024 Earnings

Energy Transfer LP (NYSE:ET) – US Capital Advisors raised their FY2024 earnings per share (EPS) estimates for shares of Energy Transfer in a research note issued to investors on Monday, February 3rd. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will post earnings per share of $1.32 for the year, up from their previous estimate of $1.31. The consensus estimate for Energy Transfer’s current full-year earnings is $1.36 per share.

Other analysts have also recently issued research reports about the stock. Bank of America began coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. The Goldman Sachs Group increased their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Royal Bank of Canada boosted their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Wells Fargo & Company increased their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, Barclays boosted their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Energy Transfer currently has an average rating of “Moderate Buy” and a consensus target price of $20.82.

Energy Transfer Trading Up 0.1 %

Shares of ET stock opened at $20.79 on Wednesday. The firm has a fifty day moving average of $19.66 and a 200-day moving average of $17.57. The stock has a market cap of $71.19 billion, a price-to-earnings ratio of 15.29, a P/E/G ratio of 0.54 and a beta of 1.69. Energy Transfer has a 52-week low of $13.79 and a 52-week high of $21.45. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.31 earnings per share.

Institutional Trading of Energy Transfer

Several hedge funds have recently modified their holdings of the stock. Sei Investments Co. boosted its position in Energy Transfer by 77.4% in the 2nd quarter. Sei Investments Co. now owns 46,063 shares of the pipeline company’s stock valued at $747,000 after buying an additional 20,093 shares during the last quarter. Fulton Bank N.A. increased its holdings in shares of Energy Transfer by 26.5% in the third quarter. Fulton Bank N.A. now owns 32,172 shares of the pipeline company’s stock worth $516,000 after acquiring an additional 6,735 shares in the last quarter. Axiom Advisory LLC raised its holdings in Energy Transfer by 3.6% during the 3rd quarter. Axiom Advisory LLC now owns 35,466 shares of the pipeline company’s stock worth $571,000 after buying an additional 1,248 shares during the period. Dynamic Advisor Solutions LLC boosted its stake in Energy Transfer by 5.6% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 137,660 shares of the pipeline company’s stock worth $2,209,000 after purchasing an additional 7,344 shares during the period. Finally, Atomi Financial Group Inc. lifted its stake in Energy Transfer by 11.8% in the 3rd quarter. Atomi Financial Group Inc. now owns 32,840 shares of the pipeline company’s stock valued at $527,000 after acquiring an additional 3,472 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be given a dividend of $0.325 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 6.25%. Energy Transfer’s dividend payout ratio is 95.59%.

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.