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

Energy Transfer LP (NYSE:ET) has received a consensus rating of “Moderate Buy” from the eleven analysts that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and nine 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 $21.60.

A number of equities research analysts have recently issued reports on the company. TD Cowen upped their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Morgan Stanley raised their target price on shares of Energy Transfer from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 10th. Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a research report on Friday, January 16th. Wells Fargo & Company upped their price target on shares of Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, March 13th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Energy Transfer in a research note on Wednesday, February 18th.

Hedge Funds Weigh In On Energy Transfer

Institutional investors have recently bought and sold shares of the business. Basepoint Wealth LLC bought a new stake in Energy Transfer in the fourth quarter valued at approximately $25,000. Gables Capital Management Inc. boosted its stake in shares of Energy Transfer by 60.0% during the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 600 shares during the period. Sarver Vrooman Wealth Advisors acquired a new position in shares of Energy Transfer during the 4th quarter worth approximately $32,000. Financial Life Planners acquired a new position in shares of Energy Transfer during the 3rd quarter worth approximately $34,000. Finally, Navalign LLC bought a new stake in Energy Transfer in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Price Performance

NYSE:ET opened at $19.04 on Thursday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.90 and a current ratio of 1.22. The stock’s 50-day simple moving average is $18.40 and its 200 day simple moving average is $17.35. The company has a market cap of $65.51 billion, a P/E ratio of 15.74, a P/E/G ratio of 1.05 and a beta of 0.63. Energy Transfer has a 52-week low of $14.60 and a 52-week high of $19.30.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Tuesday, February 17th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.09). The company had revenue of $25.32 billion for the quarter, compared to analyst estimates of $23.56 billion. Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. The business’s revenue for the quarter was up 29.6% on a year-over-year basis. During the same period last year, the company posted $0.29 earnings per share. As a group, sell-side analysts forecast that Energy Transfer will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Friday, February 6th were paid a $0.335 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, February 6th. This represents a $1.34 annualized dividend and a yield of 7.0%. Energy Transfer’s dividend payout ratio (DPR) is 110.74%.

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.