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

Shares of Energy Transfer LP (NYSE:ET) have received an average rating of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $19.29.

Several equities analysts have recently commented on ET shares. JPMorgan Chase & Co. increased their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Morgan Stanley lifted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. Mizuho upped their price target on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. UBS Group raised their price objective on Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Finally, Stifel Nicolaus boosted their target price on shares of Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, May 9th.

Energy Transfer Price Performance

ET stock opened at $15.91 on Wednesday. The company has a market capitalization of $53.62 billion, a PE ratio of 14.60, a P/E/G ratio of 0.42 and a beta of 1.66. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37. The stock’s 50 day moving average is $16.08 and its two-hundred day moving average is $15.64. Energy Transfer has a 52-week low of $12.90 and a 52-week high of $16.50.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The company’s revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 earnings per share. Analysts predict that Energy Transfer will post 1.49 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 8.05%. The ex-dividend date was Friday, August 9th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is 117.43%.

Insider Activity at Energy Transfer

In other Energy Transfer news, CEO Thomas E. Long purchased 20,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the acquisition, the chief executive officer now owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Energy Transfer news, CEO Thomas E. Long purchased 20,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the purchase, the chief executive officer now owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the purchase, the director now owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The disclosure for this purchase can be found here. Insiders have bought a total of 3,040,000 shares of company stock worth $47,667,200 in the last ninety days. 3.28% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Northwest Financial Advisors bought a new stake in shares of Energy Transfer in the 4th quarter worth approximately $25,000. LRI Investments LLC bought a new position in shares of Energy Transfer in the first quarter valued at $29,000. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Energy Transfer during the 4th quarter worth $33,000. HWG Holdings LP acquired a new position in shares of Energy Transfer in the 2nd quarter worth $33,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in shares of Energy Transfer in the 4th quarter worth $34,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Company Profile

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.