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

Shares of Energy Transfer LP (NYSE:ET) have received an average recommendation of “Buy” from the fourteen analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $23.4545.

Several analysts have recently weighed in on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a report on Friday. Barclays reissued an “overweight” rating and set a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 14th. Truist Financial assumed coverage on Energy Transfer in a report on Tuesday, March 24th. They set a “buy” rating and a $23.00 price objective on the stock. UBS Group reissued a “buy” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Finally, Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a report on Tuesday, May 12th.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $19.33 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.50. The business’s 50 day moving average is $19.47 and its two-hundred day moving average is $18.28. The company has a market cap of $66.50 billion, a P/E ratio of 16.10, a P/E/G ratio of 1.12 and a beta of 0.55. Energy Transfer has a 12 month low of $16.18 and a 12 month high of $20.70.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.05). Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The business had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $25.78 billion. During the same period in the prior year, the firm earned $0.36 earnings per share. The business’s quarterly revenue was up 32.1% on a year-over-year basis. On average, equities analysts expect that Energy Transfer will post 1.43 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were issued a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a dividend yield of 7.0%. The ex-dividend date of this dividend was Friday, May 8th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s payout ratio is 112.50%.

Institutional Trading of Energy Transfer

Institutional investors have recently modified their holdings of the company. Morgan Stanley lifted its position in shares of Energy Transfer by 41.6% during the 4th quarter. Morgan Stanley now owns 86,310,272 shares of the pipeline company’s stock worth $1,423,256,000 after buying an additional 25,366,594 shares during the period. Alps Advisors Inc. boosted its stake in Energy Transfer by 8.0% in the 4th quarter. Alps Advisors Inc. now owns 83,843,087 shares of the pipeline company’s stock valued at $1,382,573,000 after buying an additional 6,192,066 shares in the last quarter. Invesco Ltd. boosted its stake in Energy Transfer by 3.2% in the 3rd quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company’s stock valued at $992,923,000 after buying an additional 1,773,042 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in Energy Transfer by 0.3% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 38,675,828 shares of the pipeline company’s stock valued at $637,764,000 after buying an additional 103,245 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Energy Transfer by 5.7% in the 1st quarter. Bank of America Corp DE now owns 30,956,358 shares of the pipeline company’s stock valued at $597,458,000 after buying an additional 1,656,609 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

About Energy Transfer

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.