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

Shares of Energy Transfer LP (NYSE:ET) have earned an average recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $22.50.

A number of research firms have issued reports on ET. Morgan Stanley decreased their price objective on shares of Energy Transfer from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 26th. Cowen began coverage on shares of Energy Transfer in a research report on Monday, July 7th. They issued a “buy” rating on the stock. Wells Fargo & Company restated an “overweight” rating and issued a $23.00 price objective (up previously from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. TD Cowen began coverage on shares of Energy Transfer in a research report on Monday, July 7th. They issued a “buy” rating and a $22.00 price objective on the stock. Finally, Scotiabank began coverage on shares of Energy Transfer in a research report on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 price objective on the stock.

Insider Buying and Selling at Energy Transfer

In related news, Director Kelcy L. Warren bought 1,350,000 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were purchased at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the purchase, the director owned 69,178,477 shares of the company’s stock, valued at approximately $1,200,938,360.72. This trade represents a 1.99% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Energy Transfer

Several hedge funds have recently bought and sold shares of ET. Ryan Investment Management Inc. bought a new stake in Energy Transfer during the second quarter worth about $31,000. Vision Financial Markets LLC bought a new stake in Energy Transfer during the first quarter worth about $33,000. CNB Bank boosted its stake 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 acquiring an additional 1,000 shares in the last quarter. HWG Holdings LP bought a new stake in Energy Transfer during the first quarter worth about $38,000. Finally, Stone House Investment Management LLC bought a new stake in Energy Transfer during the first quarter worth about $38,000. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $17.20 on Thursday. The stock has a market cap of $59.04 billion, a PE ratio of 13.33, a PEG ratio of 1.03 and a beta of 0.85. The company’s fifty day moving average is $17.52 and its 200 day moving average is $17.58. Energy Transfer has a 52 week low of $14.60 and a 52 week high of $21.45. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The company had revenue of $19.24 billion for the quarter, compared to analysts’ expectations of $24.07 billion. During the same quarter last year, the company earned $0.35 EPS. The firm’s revenue was down 7.2% compared to the same quarter last year. Research analysts anticipate that Energy Transfer will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is presently 102.33%.

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.