Energy Transfer LP (NYSE:ET) Receives Average Rating of “Buy” from Brokerages

Shares of Energy Transfer LP (NYSE:ET) have received a consensus rating of “Buy” from the eight analysts that are currently covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $20.00.

A number of brokerages recently commented on ET. Bank of America began coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target on the stock. UBS Group upped their target price on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Royal Bank of Canada lifted their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th.

Energy Transfer Trading Up 1.1 %

Shares of Energy Transfer stock opened at $19.42 on Friday. The stock has a market cap of $66.49 billion, a P/E ratio of 14.28, a P/E/G ratio of 0.61 and a beta of 1.66. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. Energy Transfer has a 12-month low of $13.11 and a 12-month high of $19.71. The business’s 50 day moving average is $16.91 and its 200-day moving average is $16.27.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same period in the previous year, the business earned $0.31 EPS. Energy Transfer’s revenue for the quarter was up .2% compared to the same quarter last year. Equities research analysts predict that Energy Transfer will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.64%. Energy Transfer’s payout ratio is presently 94.85%.

Hedge Funds Weigh In On Energy Transfer

A number of institutional investors and hedge funds have recently bought and sold shares of ET. Fortis Capital Management LLC increased its position in Energy Transfer by 2.0% in the 3rd quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock valued at $513,000 after acquiring an additional 634 shares during the period. Princeton Global Asset Management LLC raised its position in Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 650 shares during the last quarter. Veracity Capital LLC raised its position in Energy Transfer by 2.0% during the 2nd quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock worth $545,000 after purchasing an additional 659 shares during the last quarter. Haverford Trust Co lifted its holdings in Energy Transfer by 0.7% during the 3rd quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company’s stock worth $1,640,000 after buying an additional 675 shares during the period. Finally, Morton Capital Management LLC CA grew its position in shares of Energy Transfer by 1.6% in the 2nd quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock valued at $720,000 after buying an additional 699 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

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.