Energy Transfer LP (NYSE:ET) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Energy Transfer LP (NYSE:ET) have received an average rating of “Buy” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $20.00.

A number of research analysts have issued reports on the stock. Royal Bank of Canada upped their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Bank of America began coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, UBS Group lifted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th.

Insider Transactions at Energy Transfer

In other Energy Transfer news, CEO Thomas E. Long acquired 20,000 shares of Energy Transfer stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the purchase, the chief executive officer now directly owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Kelcy L. Warren purchased 3,000,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the purchase, the director now directly owns 123,385,650 shares in the company, valued at $1,934,686,992. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas E. Long acquired 20,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the transaction, the chief executive officer now owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 3,040,000 shares of company stock valued at $47,667,200 over the last 90 days. 3.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Energy Transfer

Large investors have recently added to or reduced their stakes in the business. Norden Group LLC acquired a new stake in Energy Transfer during the first quarter worth approximately $384,000. Sequoia Financial Advisors LLC boosted its stake in Energy Transfer by 8.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 35,531 shares of the pipeline company’s stock valued at $559,000 after purchasing an additional 2,804 shares during the period. Janney Montgomery Scott LLC grew its holdings in Energy Transfer by 4.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 499,752 shares of the pipeline company’s stock valued at $7,861,000 after buying an additional 20,786 shares in the last quarter. Mutual Advisors LLC increased its position in Energy Transfer by 9.6% during the 1st quarter. Mutual Advisors LLC now owns 161,076 shares of the pipeline company’s stock worth $2,534,000 after buying an additional 14,133 shares during the period. Finally, GSA Capital Partners LLP bought a new position in Energy Transfer during the 1st quarter worth $1,159,000. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Down 0.3 %

Shares of ET opened at $16.43 on Monday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14. The company has a market cap of $56.23 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 0.50 and a beta of 1.66. The stock has a fifty day moving average price of $16.19 and a two-hundred day moving average price of $16.01. Energy Transfer has a 52-week low of $13.01 and a 52-week high of $16.64.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The company had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. During the same quarter in the previous year, the business posted $0.25 EPS. The company’s revenue was up 13.1% compared to the same quarter last year. Analysts predict that Energy Transfer will post 1.35 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be given a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a yield of 7.85%. The ex-dividend date of this dividend is Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is currently 107.56%.

Energy Transfer Company Profile

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.