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

Energy Transfer LP (NYSE:ET) has received an average rating of “Moderate Buy” from the eleven research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $22.64.

ET has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price target on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Morgan Stanley lifted their price target on Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Wells Fargo & Company cut their price target on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. JPMorgan Chase & Co. cut their price target on Energy Transfer from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $23.00 price target on shares of Energy Transfer in a report on Tuesday, March 25th.

Energy Transfer Stock Up 0.6%

Shares of ET opened at $17.87 on Friday. The firm has a market capitalization of $61.32 billion, a P/E ratio of 13.96, a P/E/G ratio of 0.64 and a beta of 0.77. Energy Transfer has a 12-month low of $14.60 and a 12-month high of $21.45. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The firm has a fifty day moving average price of $17.43 and a 200-day moving average price of $18.59.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. The company had revenue of $21.02 billion for the quarter, compared to the consensus estimate of $22.28 billion. During the same period last year, the business posted $0.32 EPS. Energy Transfer’s quarterly revenue was down 2.8% on a year-over-year basis. Equities research analysts expect that Energy Transfer will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were given a dividend of $0.3275 per share. The ex-dividend date was Friday, May 9th. This represents a $1.31 dividend on an annualized basis and a yield of 7.33%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is currently 99.24%.

Institutional Trading of Energy Transfer

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mountain Hill Investment Partners Corp. purchased a new position in shares of Energy Transfer during the 4th quarter valued at about $25,000. Capital A Wealth Management LLC purchased a new position in shares of Energy Transfer during the 4th quarter valued at about $26,000. Fourth Dimension Wealth LLC purchased a new position in shares of Energy Transfer during the 4th quarter valued at about $29,000. Vision Financial Markets LLC purchased a new position in shares of Energy Transfer during the 1st quarter valued at about $33,000. Finally, United Community Bank purchased a new position in shares of Energy Transfer during the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

About Energy Transfer

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.