Energy Transfer LP (NYSE:ET) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Energy Transfer LP (NYSE:ET) have been assigned an average rating of “Moderate Buy” from the fifteen research firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $21.6154.

A number of brokerages recently issued reports on ET. Scotiabank dropped their price objective on shares of Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating for the company in a report on Thursday, November 13th. Morgan Stanley decreased their price target on shares of Energy Transfer from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Energy Transfer in a research note on Wednesday, October 8th. Jefferies Financial Group set a $17.00 price objective on shares of Energy Transfer and gave the stock a “hold” rating in a research note on Tuesday, October 28th. Finally, Barclays restated an “overweight” rating and issued a $25.00 price objective on shares of Energy Transfer in a report on Wednesday, October 15th.

Insider Activity

In related news, Director Kelcy L. Warren acquired 1,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The shares were bought at an average cost of $16.95 per share, with a total value of $16,950,000.00. Following the completion of the purchase, the director directly owned 104,577,803 shares in the company, valued at $1,772,593,760.85. The trade was a 0.97% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 3.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On Energy Transfer

Large investors have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC lifted its holdings in Energy Transfer by 1.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 39,845 shares of the pipeline company’s stock valued at $723,000 after buying an additional 565 shares during the period. Indiana Trust & Investment Management Co raised its position in shares of Energy Transfer by 5.1% in the 1st quarter. Indiana Trust & Investment Management Co now owns 11,796 shares of the pipeline company’s stock worth $219,000 after acquiring an additional 576 shares in the last quarter. Bogart Wealth LLC lifted its stake in shares of Energy Transfer by 1.9% in the 2nd quarter. Bogart Wealth LLC now owns 32,788 shares of the pipeline company’s stock valued at $594,000 after purchasing an additional 604 shares during the period. MCF Advisors LLC boosted its position in shares of Energy Transfer by 7.2% during the 2nd quarter. MCF Advisors LLC now owns 9,195 shares of the pipeline company’s stock valued at $167,000 after purchasing an additional 616 shares in the last quarter. Finally, Chicago Capital LLC boosted its position in shares of Energy Transfer by 2.6% during the 2nd quarter. Chicago Capital LLC now owns 24,056 shares of the pipeline company’s stock valued at $436,000 after purchasing an additional 618 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Trading Down 0.2%

NYSE ET opened at $16.53 on Tuesday. The company has a market cap of $56.74 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 1.00 and a beta of 0.65. Energy Transfer has a twelve month low of $14.60 and a twelve month high of $21.45. The company has a quick ratio of 1.14, a current ratio of 1.41 and a debt-to-equity ratio of 1.50. The business’s fifty day moving average is $16.69 and its 200 day moving average is $17.28.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). Energy Transfer had a return on equity of 10.71% and a net margin of 5.66%.The firm had revenue of $19.95 billion during the quarter, compared to analyst estimates of $21.84 billion. During the same period in the previous year, the company earned $0.32 EPS. Energy Transfer’s revenue for the quarter was down 3.9% on a year-over-year basis. As a group, sell-side analysts expect that Energy Transfer will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Friday, November 7th were paid a $0.3325 dividend. The ex-dividend date of this dividend was Friday, November 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 annualized dividend and a dividend yield of 8.0%. Energy Transfer’s payout ratio is currently 106.40%.

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.