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

Shares of Energy Transfer LP (NYSE:ET) have earned an average rating of “Buy” from the fourteen ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, eleven have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $23.4545.

ET has been the subject of several research analyst reports. Raymond James Financial restated a “strong-buy” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. Truist Financial initiated coverage on shares of Energy Transfer in a research note on Tuesday, March 24th. They issued a “buy” rating and a $23.00 price objective for the company. Wells Fargo & Company upped their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, March 13th. Citigroup restated a “buy” rating and issued a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 7th. Finally, Stifel Nicolaus upped their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th.

Hedge Funds Weigh In On Energy Transfer

Several large investors have recently bought and sold shares of the stock. Brighton Jones LLC boosted its stake in shares of Energy Transfer by 93.4% during the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock worth $481,000 after buying an additional 11,844 shares during the period. AQR Capital Management LLC boosted its stake in shares of Energy Transfer by 62.8% during the first quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock worth $391,000 after buying an additional 8,118 shares during the period. Geode Capital Management LLC boosted its stake in shares of Energy Transfer by 6.2% during the second quarter. Geode Capital Management LLC now owns 135,395 shares of the pipeline company’s stock worth $2,455,000 after buying an additional 7,901 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Energy Transfer by 436.5% during the second quarter. Russell Investments Group Ltd. now owns 4,179 shares of the pipeline company’s stock worth $76,000 after buying an additional 3,400 shares during the period. Finally, Guggenheim Capital LLC boosted its stake in shares of Energy Transfer by 5.6% during the second quarter. Guggenheim Capital LLC now owns 50,919 shares of the pipeline company’s stock worth $923,000 after buying an additional 2,700 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Trading Down 0.9%

ET opened at $19.44 on Tuesday. The business has a fifty day moving average price of $19.47 and a 200 day moving average price of $18.26. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93. Energy Transfer has a 12 month low of $16.18 and a 12 month high of $20.70. The stock has a market capitalization of $66.89 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 1.12 and a beta of 0.55.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The company had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $25.78 billion. During the same period last year, the firm earned $0.36 earnings per share. Energy Transfer’s revenue was up 32.1% on a year-over-year basis. Sell-side analysts expect that Energy Transfer will post 1.43 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were paid a $0.3375 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a yield of 6.9%. The ex-dividend date was Friday, May 8th. Energy Transfer’s payout ratio is currently 112.50%.

About Energy Transfer

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.