Energy Transfer LP (NYSE:ET) Receives $21.60 Average PT from Brokerages

Energy Transfer LP (NYSE:ET) has been given a consensus rating of “Moderate Buy” by the twelve analysts that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $21.60.

A number of research firms have recently weighed in on ET. Truist Financial began coverage on shares of Energy Transfer in a research report on Tuesday, March 24th. They set a “buy” rating and a $23.00 target price for the company. Barclays reissued an “overweight” rating and set a $22.00 target price (down from $25.00) on shares of Energy Transfer in a research report on Monday, January 12th. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research report on Wednesday, January 7th. Wells Fargo & Company increased their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, March 13th. Finally, TD Cowen increased their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th.

Energy Transfer Trading Down 0.1%

NYSE:ET opened at $18.72 on Monday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.90 and a current ratio of 1.22. The firm has a market cap of $64.39 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 1.05 and a beta of 0.62. Energy Transfer has a 52 week low of $15.80 and a 52 week high of $19.85. The firm has a 50-day moving average price of $18.81 and a two-hundred day moving average price of $17.56.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, February 17th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.09). The firm had revenue of $25.32 billion during the quarter, compared to analysts’ expectations of $23.56 billion. Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. The company’s quarterly revenue was up 29.6% on a year-over-year basis. During the same quarter last year, the business posted $0.29 EPS. On average, equities analysts expect that Energy Transfer will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Friday, February 6th were given a dividend of $0.335 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 7.2%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is currently 110.74%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ET. Basepoint Wealth LLC bought a new position in shares of Energy Transfer during the 4th quarter valued at approximately $25,000. Gables Capital Management Inc. boosted its holdings in Energy Transfer by 60.0% in the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after buying an additional 600 shares during the period. Sarver Vrooman Wealth Advisors bought a new position in Energy Transfer in the 4th quarter worth approximately $32,000. Financial Life Planners bought a new position in Energy Transfer in the 3rd quarter worth approximately $34,000. Finally, Navalign LLC bought a new position in Energy Transfer in the 4th quarter worth approximately $37,000. 38.22% of the stock is owned by institutional investors.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.