Brokerages Anticipate Energy Transfer LP (NYSE:ET) to Announce $0.29 Earnings Per Share

Wall Street brokerages expect that Energy Transfer LP (NYSE:ET – Get Rating) will announce earnings of $0.29 per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Energy Transfer’s earnings. The highest EPS estimate is $0.36 and the lowest is $0.23. Energy Transfer posted earnings of $0.20 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 45%. The business is expected to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Energy Transfer will report full year earnings of $1.27 per share for the current financial year, with EPS estimates ranging from $1.00 to $1.54. For the next year, analysts forecast that the business will report earnings of $1.45 per share, with EPS estimates ranging from $1.11 to $1.82. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Energy Transfer.

Energy Transfer (NYSE:ET – Get Rating) last posted its quarterly earnings data on Wednesday, May 4th. The pipeline company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.12. Energy Transfer had a return on equity of 10.25% and a net margin of 4.58%. The firm had revenue of $20.49 billion for the quarter, compared to analyst estimates of $18.79 billion. During the same quarter last year, the company earned $1.14 EPS. The company’s revenue was up 20.6% on a year-over-year basis.

A number of brokerages have weighed in on ET. Zacks Investment Research raised Energy Transfer from a “hold” rating to a “strong-buy” rating and set a $13.00 target price on the stock in a report on Wednesday, March 30th. Morgan Stanley raised their target price on Energy Transfer from $12.00 to $15.00 and gave the company an “overweight” rating in a report on Tuesday, April 26th. Mizuho raised their target price on Energy Transfer from $13.00 to $14.00 in a report on Friday, February 18th. Raymond James raised their target price on Energy Transfer from $13.00 to $14.00 and gave the company a “strong-buy” rating in a report on Thursday, February 17th. Finally, Barclays reduced their target price on Energy Transfer from $14.00 to $13.00 in a report on Thursday, January 20th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $14.00.

In other news, Director Michael K. Grimm acquired 504,600 shares of the business’s stock in a transaction that occurred on Wednesday, April 6th. The shares were bought at an average price of $11.21 per share, with a total value of $5,656,566.00. Following the acquisition, the director now directly owns 181,089 shares in the company, valued at approximately $2,030,007.69. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.28% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Oak Harvest Investment Services lifted its holdings in Energy Transfer by 2.1% during the 1st quarter. Oak Harvest Investment Services now owns 40,395 shares of the pipeline company’s stock worth $452,000 after buying an additional 840 shares during the period. Diversified Trust Co lifted its holdings in Energy Transfer by 3.6% during the 1st quarter. Diversified Trust Co now owns 26,305 shares of the pipeline company’s stock worth $294,000 after buying an additional 912 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in Energy Transfer by 1.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 102,980 shares of the pipeline company’s stock worth $1,187,000 after buying an additional 980 shares during the period. Capital Market Strategies LLC lifted its holdings in Energy Transfer by 5.8% during the 1st quarter. Capital Market Strategies LLC now owns 18,123 shares of the pipeline company’s stock worth $203,000 after buying an additional 1,000 shares during the period. Finally, Retirement Group LLC lifted its holdings in Energy Transfer by 40.8% during the 1st quarter. Retirement Group LLC now owns 3,450 shares of the pipeline company’s stock worth $39,000 after buying an additional 1,000 shares during the period. 48.40% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer stock opened at $11.23 on Thursday. The stock’s fifty day moving average price is $11.01 and its two-hundred day moving average price is $9.87. The firm has a market cap of $34.65 billion, a PE ratio of 10.59 and a beta of 1.93. Energy Transfer has a one year low of $7.96 and a one year high of $12.48. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.14 and a quick ratio of 1.00.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 19th. Investors of record on Monday, May 9th will be issued a dividend of $0.20 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, May 6th. This represents a $0.80 annualized dividend and a dividend yield of 7.12%. Energy Transfer’s dividend payout ratio (DPR) is 75.47%.

Energy Transfer Company Profile (Get Rating)

Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,830 miles of interstate natural gas pipeline.

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