FY2024 EPS Forecast for Energy Transfer Increased by Analyst

Energy Transfer LP (NYSE:ET) – Investment analysts at US Capital Advisors increased their FY2024 earnings estimates for shares of Energy Transfer in a note issued to investors on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now expects that the pipeline company will post earnings per share of $1.31 for the year, up from their previous forecast of $1.29. The consensus estimate for Energy Transfer’s current full-year earnings is $1.34 per share.

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

Other equities research analysts have also recently issued reports about the company. Bank of America began coverage on Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. UBS Group upped their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Royal Bank of Canada boosted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $20.00.

Energy Transfer Trading Up 1.0 %

Energy Transfer stock opened at $19.40 on Thursday. Energy Transfer has a 1 year low of $13.11 and a 1 year high of $19.71. The firm’s 50 day moving average price is $16.85 and its 200-day moving average price is $16.25. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The stock has a market cap of $66.42 billion, a P/E ratio of 14.26, a PEG ratio of 0.61 and a beta of 1.66.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were paid a $0.3225 dividend. This represents a $1.29 annualized dividend and a yield of 6.65%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio is presently 94.85%.

Institutional Investors Weigh In On Energy Transfer

Large investors have recently modified their holdings of the business. Princeton Global Asset Management LLC increased its stake in shares of Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 650 shares during the last quarter. Assetmark Inc. grew its stake in shares of Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares during the last quarter. LRI Investments LLC acquired a new position in Energy Transfer during the first quarter worth about $29,000. HWG Holdings LP acquired a new stake in Energy Transfer during the 2nd quarter valued at $33,000. Finally, Sugarloaf Wealth Management LLC grew its holdings in shares of Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after buying an additional 750 shares in the last quarter. Institutional investors 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.