Energy Transfer LP (NYSE:ET) Receives Average Recommendation of “Buy” from Analysts

Energy Transfer LP (NYSE:ET) has been given a consensus recommendation of “Buy” by the eight analysts that are covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $20.00.

ET has been the subject of a number of research analyst reports. UBS Group raised their target price on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Bank of America began coverage on Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. Finally, Royal Bank of Canada lifted their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th.

Energy Transfer Stock Down 0.8 %

Shares of NYSE:ET opened at $19.26 on Friday. The business has a 50-day moving average price of $17.11 and a 200 day moving average price of $16.35. 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 has a market capitalization of $65.94 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 0.63 and a beta of 1.70. Energy Transfer has a 12-month low of $13.11 and a 12-month high of $20.02.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. During the same period last year, the business posted $0.31 EPS. Energy Transfer’s revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts expect that Energy Transfer will post 1.32 EPS for the current year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were paid a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a yield of 6.70%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s payout ratio is 94.85%.

Institutional Investors Weigh In On Energy Transfer

Several institutional investors have recently added to or reduced their stakes in the business. Princeton Global Asset Management LLC increased its position in Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares during the period. Assetmark Inc. increased its position in Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after buying an additional 1,668 shares during the period. LRI Investments LLC acquired a new position in Energy Transfer during the first quarter worth approximately $29,000. HWG Holdings LP acquired a new position in Energy Transfer during the second quarter worth approximately $33,000. Finally, Sugarloaf Wealth Management LLC increased its position in 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 during the period. Hedge funds and other 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.