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

Shares of Energy Transfer LP (NYSE:ET) have been given a consensus recommendation of “Buy” by the fifteen brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $13.27.

Several brokerages have weighed in on ET. Bank of America assumed coverage on Energy Transfer in a report on Tuesday, September 28th. They set a “buy” rating for the company. Royal Bank of Canada increased their price objective on Energy Transfer from $9.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday. Wells Fargo & Company raised their price target on Energy Transfer from $13.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday, December 16th. Tudor Pickering upgraded Energy Transfer from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Tuesday, September 21st. Finally, Morgan Stanley began coverage on Energy Transfer in a research note on Friday, January 7th. They issued an “overweight” rating and a $12.00 target price on the stock.

In other Energy Transfer news, COO Matthew S. Ramsey purchased 33,561 shares of the company’s stock in a transaction on Friday, December 10th. The shares were purchased at an average cost of $7.45 per share, for a total transaction of $250,029.45. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Bradford D. Whitehurst bought 67,121 shares of the company’s stock in a transaction dated Friday, December 10th. The stock was acquired at an average price of $7.45 per share, for a total transaction of $500,051.45. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 16,290,367 shares of company stock valued at $121,363,234. 3.28% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. IFP Advisors Inc grew its holdings in shares of Energy Transfer by 163.8% during the third quarter. IFP Advisors Inc now owns 129,656 shares of the pipeline company’s stock worth $1,244,000 after purchasing an additional 80,506 shares during the last quarter. Ancient Art L.P. acquired a new stake in shares of Energy Transfer during the second quarter worth about $11,869,000. First Horizon Advisors Inc. raised its position in shares of Energy Transfer by 10.8% during the third quarter. First Horizon Advisors Inc. now owns 31,210 shares of the pipeline company’s stock worth $299,000 after purchasing an additional 3,052 shares during the period. Wall Street Access Asset Management LLC acquired a new stake in shares of Energy Transfer during the second quarter worth about $928,000. Finally, Pacer Advisors Inc. raised its position in shares of Energy Transfer by 9.2% during the third quarter. Pacer Advisors Inc. now owns 105,739 shares of the pipeline company’s stock worth $1,013,000 after purchasing an additional 8,879 shares during the period. Institutional investors and hedge funds own 38.37% of the company’s stock.

Shares of Energy Transfer stock opened at $9.59 on Friday. Energy Transfer has a one year low of $6.24 and a one year high of $11.55. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.92 and a quick ratio of 0.74. The stock’s 50-day moving average is $8.71 and its 200 day moving average is $9.35. The firm has a market cap of $30.51 billion, a price-to-earnings ratio of 5.33 and a beta of 2.28.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, November 3rd. The pipeline company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.05). The firm had revenue of $16.66 billion for the quarter, compared to analyst estimates of $14.96 billion. Energy Transfer had a return on equity of 15.32% and a net margin of 8.43%. During the same period last year, the company posted $0.30 earnings per share. On average, sell-side analysts expect that Energy Transfer will post 1.59 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 19th. Shareholders of record on Friday, November 5th were issued a $0.153 dividend. This represents a $0.61 dividend on an annualized basis and a yield of 6.38%. The ex-dividend date was Thursday, November 4th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.15. Energy Transfer’s payout ratio is currently 33.89%.

About Energy Transfer

Energy Transfer LP provides natural gas pipeline transportation and transmission services. It operates through the following segments: Intrastate Transportation and Storage, Interstate Transportation and Storage, Midstream, NGL and Refined Products Transportation and Services, Crude Oil Transportation and Services, Investment in Sunoco LP, Investment in USAC, and All Other.

Read More: Intrinsic Value and Stock Selection

Analyst Recommendations for Energy Transfer (NYSE:ET)

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