Energy Transfer (NYSE:ET) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Energy Transfer (NYSE:ET) from a hold rating to a strong-buy rating in a research report released on Monday,Zacks.com reports.

A number of other research analysts have also recently commented on ET. Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research note on Friday, June 5th. Stifel Nicolaus lifted their price objective on Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Truist Financial initiated coverage on Energy Transfer in a research note on Tuesday, March 24th. They set a “buy” rating and a $23.00 target price on the stock. Finally, Barclays restated an “overweight” rating and set a $23.00 target price (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 14th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $23.45.

Energy Transfer Trading Down 0.5%

Shares of ET stock opened at $20.07 on Monday. Energy Transfer has a 1-year low of $16.18 and a 1-year high of $20.70. The firm has a market cap of $69.08 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 1.17 and a beta of 0.55. The company has a 50-day moving average of $19.49 and a two-hundred day moving average of $18.78. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.05). The company had revenue of $27.77 billion during the quarter, compared to analyst estimates of $25.78 billion. Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The business’s revenue was up 32.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.36 earnings per share. On average, analysts predict that Energy Transfer will post 1.43 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were paid a $0.3375 dividend. This represents a $1.35 annualized dividend and a dividend yield of 6.7%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, May 8th. Energy Transfer’s payout ratio is presently 112.50%.

Institutional Trading of Energy Transfer

Several hedge funds have recently modified their holdings of the stock. SL Advisors LLC boosted its holdings in Energy Transfer by 11.5% in the second quarter. SL Advisors LLC now owns 473,898 shares of the pipeline company’s stock valued at $9,061,000 after purchasing an additional 48,920 shares during the period. Ballast Inc. purchased a new stake in Energy Transfer during the 2nd quarter worth about $822,000. Tema ETFs LLC increased its holdings in Energy Transfer by 47.5% during the 2nd quarter. Tema ETFs LLC now owns 1,366,371 shares of the pipeline company’s stock worth $26,125,000 after purchasing an additional 440,228 shares during the period. Redhawk Wealth Advisors Inc. raised its position in Energy Transfer by 48.9% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 45,068 shares of the pipeline company’s stock valued at $862,000 after purchasing an additional 14,795 shares in the last quarter. Finally, Harrell Investment Partners LLC raised its position in Energy Transfer by 55.8% in the 2nd quarter. Harrell Investment Partners LLC now owns 21,928 shares of the pipeline company’s stock valued at $419,000 after purchasing an additional 7,857 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

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.