FY2024 EPS Estimates for Energy Transfer Lifted by Analyst

Energy Transfer LP (NYSE:ET) – Analysts at US Capital Advisors boosted their FY2024 EPS estimates for shares of Energy Transfer in a research report issued on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will earn $1.31 per share for the year, up from their prior estimate of $1.29. The consensus estimate for Energy Transfer’s current full-year earnings is $1.34 per share.

Several other equities research analysts have also issued reports on the stock. UBS Group lifted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Bank of America began coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, Royal Bank of Canada upped their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Stock Performance

NYSE:ET opened at $19.42 on Thursday. Energy Transfer has a twelve month low of $13.11 and a twelve month high of $19.71. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The stock has a market cap of $66.49 billion, a P/E ratio of 14.28, a PEG ratio of 0.61 and a beta of 1.66. The business’s 50-day moving average price is $16.91 and its two-hundred day moving average price is $16.27.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. During the same quarter in the prior year, the firm posted $0.31 earnings per share. The business’s quarterly revenue was up .2% on a year-over-year basis.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were issued a $0.3225 dividend. This represents a $1.29 annualized dividend and a yield of 6.64%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%.

Hedge Funds Weigh In On Energy Transfer

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Silvercrest Asset Management Group LLC lifted its position in shares of Energy Transfer by 31.8% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 159,264 shares of the pipeline company’s stock worth $2,505,000 after purchasing an additional 38,383 shares during the period. Tidal Investments LLC lifted its stake in shares of Energy Transfer by 12.9% in the 1st quarter. Tidal Investments LLC now owns 86,196 shares of the pipeline company’s stock valued at $1,342,000 after purchasing an additional 9,849 shares during the period. LRI Investments LLC purchased a new stake in Energy Transfer in the first quarter worth $29,000. Sanibel Captiva Trust Company Inc. raised its holdings in Energy Transfer by 18.5% in the first quarter. Sanibel Captiva Trust Company Inc. now owns 23,875 shares of the pipeline company’s stock worth $376,000 after purchasing an additional 3,725 shares in the last quarter. Finally, Burney Co. lifted its position in Energy Transfer by 288.1% during the first quarter. Burney Co. now owns 63,046 shares of the pipeline company’s stock valued at $992,000 after buying an additional 46,800 shares during the period. Institutional investors own 38.22% of the company’s stock.

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.