Energy Transfer LP (NYSE:ET) Given Consensus Recommendation of “Buy” by Analysts

Energy Transfer LP (NYSE:ETGet Rating) has been given an average recommendation of “Buy” by the eleven brokerages that are currently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $14.00.

A number of equities analysts have commented on ET shares. Zacks Investment Research raised shares of Energy Transfer from a “hold” rating to a “strong-buy” rating and set a $13.00 price target for the company in a research note on Wednesday, March 30th. Raymond James boosted their price target on shares of Energy Transfer from $13.00 to $14.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 17th. Barclays cut their price target on shares of Energy Transfer from $14.00 to $13.00 in a research note on Thursday, January 20th. Morgan Stanley boosted their price objective on shares of Energy Transfer from $12.00 to $15.00 and gave the stock an “overweight” rating in a report on Tuesday, April 26th. Finally, Mizuho boosted their price objective on shares of Energy Transfer from $13.00 to $14.00 in a report on Friday, February 18th.

ET stock traded down $0.16 during midday trading on Friday, reaching $10.90. The company had a trading volume of 596,258 shares, compared to its average volume of 25,568,616. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.14 and a quick ratio of 1.00. Energy Transfer has a 1 year low of $7.96 and a 1 year high of $12.48. The company has a market capitalization of $33.63 billion, a P/E ratio of 10.27 and a beta of 1.93. The firm has a 50-day moving average price of $11.03 and a 200-day moving average price of $9.88.

Energy Transfer (NYSE:ETGet Rating) last released its quarterly earnings results 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 net margin of 4.58% and a return on equity of 10.25%. The business had revenue of $20.49 billion during the quarter, compared to analysts’ expectations of $18.79 billion. During the same quarter in the previous year, the company earned $1.14 EPS. The business’s quarterly revenue was up 20.6% compared to the same quarter last year. On average, equities analysts predict that Energy Transfer will post 1.27 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, May 19th. Investors of record on Monday, May 9th were issued a dividend of $0.20 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 7.34%. The ex-dividend date was Friday, May 6th. Energy Transfer’s dividend payout ratio is currently 75.47%.

In related news, Director Michael K. Grimm acquired 504,600 shares of Energy Transfer stock in a transaction on Wednesday, April 6th. The shares were acquired at an average cost of $11.21 per share, with a total value of $5,656,566.00. Following the transaction, the director now owns 181,089 shares in the company, valued at $2,030,007.69. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.28% of the company’s stock.

A number of institutional investors have recently modified their holdings of ET. LPL Financial LLC grew its position in shares of Energy Transfer by 22.2% in the 3rd quarter. LPL Financial LLC now owns 1,332,774 shares of the pipeline company’s stock worth $12,768,000 after buying an additional 242,542 shares during the period. Enhancing Capital LLC purchased a new stake in shares of Energy Transfer in the 4th quarter worth about $664,000. Carroll Financial Associates Inc. grew its position in shares of Energy Transfer by 18.9% in the 4th quarter. Carroll Financial Associates Inc. now owns 19,122 shares of the pipeline company’s stock worth $158,000 after buying an additional 3,044 shares during the period. StrategIQ Financial Group LLC purchased a new stake in shares of Energy Transfer in the 4th quarter worth about $92,000. Finally, Keybank National Association OH grew its position in shares of Energy Transfer by 18.6% in the 4th quarter. Keybank National Association OH now owns 131,906 shares of the pipeline company’s stock worth $1,086,000 after buying an additional 20,640 shares during the period. 48.40% of the stock is currently owned by institutional investors and hedge funds.

About Energy Transfer (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.

Further Reading

Analyst Recommendations for Energy Transfer (NYSE:ET)

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