FY2024 EPS Estimate for Energy Transfer Increased by Analyst

Energy Transfer LP (NYSE:ET) – Investment analysts at US Capital Advisors increased their FY2024 earnings per share (EPS) estimates for shares of Energy Transfer in a note issued to investors on Monday, February 3rd. US Capital Advisors analyst J. Carreker now expects that the pipeline company will earn $1.32 per share for the year, up from their prior forecast of $1.31. The consensus estimate for Energy Transfer’s current full-year earnings is $1.36 per share.

Several other brokerages also recently commented on ET. Barclays upped their target price on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Wells Fargo & Company raised their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Bank of America began coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. Royal Bank of Canada raised their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, The Goldman Sachs Group boosted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and an average price target of $20.82.

Energy Transfer Price Performance

Shares of Energy Transfer stock opened at $20.79 on Wednesday. Energy Transfer has a 52 week low of $13.79 and a 52 week high of $21.45. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The company’s 50-day moving average price is $19.66 and its two-hundred day moving average price is $17.57. The stock has a market cap of $71.19 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 0.54 and a beta of 1.69.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 earnings per share.

Institutional Trading of Energy Transfer

A number of institutional investors have recently added to or reduced their stakes in the business. SRS Capital Advisors Inc. lifted its stake in shares of Energy Transfer by 8.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 34,294 shares of the pipeline company’s stock valued at $672,000 after purchasing an additional 2,683 shares during the last quarter. Duncker Streett & Co. Inc. acquired a new stake in shares of Energy Transfer in the fourth quarter worth about $47,000. Jacobi Capital Management LLC boosted its stake in shares of Energy Transfer by 1.6% during the 4th quarter. Jacobi Capital Management LLC now owns 110,679 shares of the pipeline company’s stock worth $2,168,000 after acquiring an additional 1,754 shares in the last quarter. US Bancorp DE boosted its stake in shares of Energy Transfer by 242.9% during the 4th quarter. US Bancorp DE now owns 493,107 shares of the pipeline company’s stock worth $9,660,000 after acquiring an additional 349,307 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Energy Transfer by 5.4% in the 4th quarter. Fisher Asset Management LLC now owns 42,259 shares of the pipeline company’s stock valued at $828,000 after acquiring an additional 2,184 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be given a $0.325 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a yield of 6.25%. The ex-dividend date of this dividend is Friday, February 7th. Energy Transfer’s dividend payout ratio is presently 95.59%.

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.