Energy Transfer LP (NYSE:ET) Receives $16.50 Consensus Target Price from Analysts

Shares of Energy Transfer LP (NYSE:ET) have been assigned an average recommendation of “Buy” from the eight research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $16.50.

Several analysts have issued reports on ET shares. JPMorgan Chase & Co. upped their price target on shares of Energy Transfer from $17.00 to $18.00 in a report on Tuesday, October 10th. The Goldman Sachs Group began coverage on shares of Energy Transfer in a research note on Thursday, October 5th. They set a “neutral” rating and a $14.00 price objective on the stock. Mizuho upped their price objective on shares of Energy Transfer from $17.00 to $18.00 in a research note on Tuesday, July 18th. Pickering Energy Partners initiated coverage on shares of Energy Transfer in a report on Tuesday, October 3rd. They issued an “outperform” rating on the stock. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $17.00 price target on shares of Energy Transfer in a report on Thursday, July 20th.

Insider Buying and Selling

In related news, CEO Marshall S. Mccrea III bought 50,000 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was bought at an average price of $13.64 per share, with a total value of $682,000.00. Following the transaction, the chief executive officer now owns 6,719,267 shares of the company’s stock, valued at $91,650,801.88. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other Energy Transfer news, Chairman Kelcy L. Warren purchased 750,000 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was acquired at an average cost of $12.93 per share, with a total value of $9,697,500.00. Following the acquisition, the chairman now owns 62,328,477 shares of the company’s stock, valued at approximately $805,907,207.61. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Marshall S. Mccrea III purchased 50,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was acquired at an average cost of $13.64 per share, with a total value of $682,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 6,719,267 shares in the company, valued at approximately $91,650,801.88. The disclosure for this purchase can be found here. Insiders have bought 2,010,000 shares of company stock valued at $26,149,000 in the last quarter. Company insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. EP Wealth Advisors LLC acquired a new position in Energy Transfer during the 1st quarter valued at about $273,000. Tucker Asset Management LLC acquired a new position in Energy Transfer during the 1st quarter valued at about $25,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Energy Transfer during the 1st quarter worth about $25,000. Capital Advisors Ltd. LLC bought a new stake in shares of Energy Transfer during the 2nd quarter worth about $26,000. Finally, Tsfg LLC raised its holdings in shares of Energy Transfer by 86.8% in the 3rd quarter. Tsfg LLC now owns 2,152 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 1,000 shares in the last quarter. 33.79% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Trading Down 3.4 %

Shares of Energy Transfer stock opened at $13.11 on Friday. Energy Transfer has a 52-week low of $11.37 and a 52-week high of $14.15. The company has a quick ratio of 0.64, a current ratio of 0.81 and a debt-to-equity ratio of 1.28. The company’s 50-day simple moving average is $13.64 and its 200-day simple moving average is $13.09. The firm has a market cap of $41.21 billion, a price-to-earnings ratio of 10.93 and a beta of 1.66.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, August 2nd. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.05). Energy Transfer had a return on equity of 11.85% and a net margin of 5.05%. The company had revenue of $18.32 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same quarter in the previous year, the company posted $0.39 earnings per share. The company’s quarterly revenue was down 29.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Energy Transfer will post 1.22 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, October 30th will be paid a dividend of $0.313 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.31. The ex-dividend date is Friday, October 27th. This represents a $1.25 annualized dividend and a yield of 9.55%. Energy Transfer’s payout ratio is 103.33%.

Energy Transfer Company Profile

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 19,945 miles of interstate natural gas pipeline.