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

Energy Transfer LP (NYSE:ET) has been assigned an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $21.2727.

Several brokerages have issued reports on ET. Jefferies Financial Group restated a “hold” rating on shares of Energy Transfer in a research report on Wednesday. JPMorgan Chase & Co. reduced their price target on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Monday, November 24th. Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a research report on Friday, January 16th. Morgan Stanley reduced their target price on shares of Energy Transfer from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Tuesday, December 2nd. Finally, Barclays reaffirmed an “overweight” rating and set a $22.00 price target (down from $25.00) on shares of Energy Transfer in a research report on Monday, January 12th.

Energy Transfer Trading Up 0.3%

Shares of Energy Transfer stock opened at $18.96 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.41 and a quick ratio of 1.14. The business has a fifty day simple moving average of $17.43 and a two-hundred day simple moving average of $17.17. Energy Transfer has a 1 year low of $14.60 and a 1 year high of $19.88. The company has a market capitalization of $65.08 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 0.98 and a beta of 0.66.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, February 17th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.09). The company had revenue of $25.32 billion during the quarter, compared to the consensus estimate of $23.56 billion. Energy Transfer had a net margin of 5.11% and a return on equity of 10.38%. Energy Transfer’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.29 earnings per share. Research analysts forecast that Energy Transfer will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Friday, February 6th were issued a dividend of $0.335 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.34 annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend was Friday, February 6th. Energy Transfer’s payout ratio is 110.74%.

Institutional Investors Weigh In On Energy Transfer

Large investors have recently added to or reduced their stakes in the stock. Basepoint Wealth LLC acquired a new position in Energy Transfer in the 4th quarter valued at $25,000. Gables Capital Management Inc. increased its position in shares of Energy Transfer by 60.0% in the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 600 shares during the period. Sarver Vrooman Wealth Advisors acquired a new position in Energy Transfer in the fourth quarter valued at about $32,000. CNB Bank lifted its position in Energy Transfer by 111.1% during the second quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 1,000 shares during the period. Finally, Financial Life Planners acquired a new stake in Energy Transfer during the third quarter worth about $34,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.