Energy Transfer LP (NYSE:ET) Stock Has Average Target Price of $24.36 According to Analysts

Shares of Energy Transfer LP (NYSE:ET) have been assigned an average rating of “Moderate Buy” from the seventeen ratings firms that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $24.50.

Several analysts recently weighed in on ET shares. Stifel Nicolaus assumed coverage on Energy Transfer in a research note on Thursday, September 10th. They issued a “buy” rating and a $25.00 price target on the stock. TD Cowen reiterated a “buy” rating and set a $25.00 price objective (up from $24.00) on shares of Energy Transfer in a research note on Monday, August 10th. Barclays reiterated an “overweight” rating and set a $24.00 price objective (up from $23.00) on shares of Energy Transfer in a research note on Wednesday, August 5th. Wall Street Zen raised Energy Transfer from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, July 21st.

Insider Transactions at Energy Transfer

In other news, Director James Perry acquired 12,359 shares of Energy Transfer stock in a transaction on Friday, August 7th. The stock was acquired at an average cost of $20.23 per share, for a total transaction of $250,022.57. Following the purchase, the director owned 208,046 shares in the company, valued at $4,208,770.58. This trade represents a 6.32% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kelcy L. Warren bought 647,968 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was purchased at an average cost of $21.26 per share, with a total value of $13,775,799.68. Following the completion of the acquisition, the director directly owned 147,901,879 shares of the company’s stock, valued at approximately $3,144,393,947.54. The trade was a 0.44% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders purchased 1,012,359 shares of company stock worth $21,513,543. 3.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Oak Grove Capital LLC raised its position in Energy Transfer by 5.4% in the 3rd quarter. Oak Grove Capital LLC now owns 943,209 shares of the pipeline company’s stock worth $18,647,000 after buying an additional 48,500 shares during the last quarter. GK Wealth Management LLC bought a new position in Energy Transfer during the 3rd quarter valued at about $59,000. Wedmont Private Capital bought a new position in Energy Transfer during the 3rd quarter valued at about $289,000. Chapin Davis Inc. boosted its holdings in shares of Energy Transfer by 1.5% during the 3rd quarter. Chapin Davis Inc. now owns 105,426 shares of the pipeline company’s stock valued at $2,084,000 after acquiring an additional 1,521 shares during the last quarter. Finally, First Heartland Consultants Inc. boosted its holdings in shares of Energy Transfer by 22.7% during the 3rd quarter. First Heartland Consultants Inc. now owns 12,357 shares of the pipeline company’s stock valued at $244,000 after acquiring an additional 2,286 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of ET opened at $20.41 on Monday. The stock has a market cap of $70.28 billion, a PE ratio of 13.88 and a beta of 0.60. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.94 and a current ratio of 1.16. Energy Transfer has a fifty-two week low of $16.18 and a fifty-two week high of $21.84. The firm’s 50-day simple moving average is $20.91 and its two-hundred day simple moving average is $20.00.

Energy Transfer (NYSE:ET) last announced its earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.21. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The business had revenue of $34.33 billion during the quarter, compared to the consensus estimate of $27.71 billion. During the same quarter last year, the firm earned $0.32 earnings per share. The business’s revenue for the quarter was up 78.4% on a year-over-year basis. Analysts anticipate that Energy Transfer will post 1.73 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were given a $0.34 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $1.36 annualized dividend and a dividend yield of 6.7%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.3375. Energy Transfer’s payout ratio is presently 92.52%.

About Energy Transfer

Energy Transfer LP is a diversified energy infrastructure company headquartered in Dallas, Texas. The partnership owns and operates a broad network of pipelines, processing facilities, storage assets and terminals that support the movement of natural gas, natural gas liquids, crude oil and refined products across the United States.

The company’s operations include gathering and processing natural gas, transporting and storing natural gas and NGLs, fractionating NGLs into component products, and transporting crude oil and refined products.