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

Shares of Energy Transfer LP (NYSE:ET) have earned an average rating of “Moderate Buy” from the eleven research firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $20.55.

Several analysts have recently commented on ET shares. Bank of America initiated coverage on Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. The Goldman Sachs Group increased their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Wells Fargo & Company boosted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. UBS Group increased their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Barclays boosted their price objective on shares of Energy Transfer from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday.

Institutional Investors Weigh In On Energy Transfer

A number of institutional investors have recently modified their holdings of the company. Empowered Funds LLC increased its stake in Energy Transfer by 15.0% in the third quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock valued at $5,567,000 after purchasing an additional 45,172 shares in the last quarter. Kingsview Wealth Management LLC increased its position in Energy Transfer by 30.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock valued at $3,885,000 after buying an additional 57,184 shares in the last quarter. FMR LLC increased its position in Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after buying an additional 10,195,768 shares in the last quarter. Clear Street Derivatives LLC acquired a new position in Energy Transfer during the 3rd quarter worth approximately $2,565,000. Finally, GFS Advisors LLC boosted its holdings in Energy Transfer by 19,380.5% in the third quarter. GFS Advisors LLC now owns 60,000 shares of the pipeline company’s stock worth $963,000 after acquiring an additional 59,692 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

Energy Transfer Price Performance

Shares of ET stock opened at $19.04 on Tuesday. The stock’s fifty day simple moving average is $17.80 and its 200 day simple moving average is $16.65. Energy Transfer has a one year low of $13.60 and a one year high of $20.02. The firm has a market cap of $65.19 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 0.63 and a beta of 1.70. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The company had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.31 EPS. On average, analysts expect that Energy Transfer will post 1.32 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 6.78%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s payout ratio is currently 94.85%.

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.