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

Energy Transfer LP (NYSE:ET) has been given a consensus rating of “Buy” by the fifteen analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $23.50.

A number of research analysts recently weighed in on the stock. Citigroup reissued a “buy” rating and issued a $23.00 target price (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 7th. Raymond James Financial reiterated a “strong-buy” rating on shares of Energy Transfer in a research report on Wednesday, May 6th. JPMorgan Chase & Co. lifted their price objective on shares of Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Stifel Nicolaus boosted their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Barclays reaffirmed an “overweight” rating and issued a $23.00 price target (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 14th.

Institutional Investors Weigh In On Energy Transfer

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Basepoint Wealth LLC purchased a new position in shares of Energy Transfer in the 4th quarter worth approximately $25,000. Gables Capital Management Inc. lifted its position in Energy Transfer by 60.0% in the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after buying an additional 600 shares during the last quarter. Sarver Vrooman Wealth Advisors bought a new stake in Energy Transfer in the fourth quarter worth $32,000. Cassaday & Co Wealth Management LLC purchased a new position in Energy Transfer during the first quarter worth $35,000. Finally, Navalign LLC purchased a new position in Energy Transfer during the fourth quarter worth $37,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

Shares of Energy Transfer stock opened at $20.38 on Wednesday. The firm has a market cap of $70.11 billion, a PE ratio of 16.98, a PEG ratio of 1.18 and a beta of 0.55. The stock has a 50 day moving average of $19.55 and a 200 day moving average of $18.99. The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50. Energy Transfer has a 12 month low of $16.18 and a 12 month high of $20.70.

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

Key Stories Impacting Energy Transfer

Here are the key news stories impacting Energy Transfer this week:

• Positive Sentiment: ET was featured as a low-beta stock that can help reduce portfolio risk, with stable fee-based revenues and growth projects supporting its defensive appeal. 3 Low-Beta Stocks to Minimize Portfolio Risk: LQDA, ET & PBF
• Positive Sentiment: Analysts and market commentary say Energy Transfer may be undervalued after raising EBITDA guidance, which could support the stock’s upside potential. Energy Transfer (ET) Could Be 13% Undervalued Following Raised EBITDA Guidance
• Positive Sentiment: The company affirmed its income appeal by announcing a quarterly cash distribution on Series I preferred units, signaling continued cash returns to investors. Energy Transfer LP Announces Cash Distribution on Series I Preferred Units
• Positive Sentiment: ET is being highlighted as a high-yield stock with strong analyst support and room to run, reinforcing investor interest in the name. 5 High-Yield Stocks With Analyst Support and Room to Run
• Neutral Sentiment: Several articles note that Zacks users have been searching for ET more frequently, suggesting rising attention but not a clear fundamental catalyst. Energy Transfer LP (ET) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: ET was also mentioned in broader industry pieces on pipeline MLPs and dividend stocks, which support the bullish case but do not add a company-specific catalyst. 3 Oil Pipeline MLP Stocks Riding on Favorable Industry Trends

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.