Brokerages Set Energy Transfer LP (NYSE:ET) PT at $19.29

Shares of Energy Transfer LP (NYSE:ET) have earned an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $19.29.

A number of equities analysts have commented on the stock. Stifel Nicolaus upped their price objective on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. upped their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Morgan Stanley upped their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. UBS Group upped their price objective on shares of Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Finally, Mizuho upped their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th.

Institutional Investors Weigh In On Energy Transfer

Hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its position in shares of Energy Transfer by 6,759.3% in the third quarter. Tower Research Capital LLC TRC now owns 26,820 shares of the pipeline company’s stock worth $376,000 after acquiring an additional 26,429 shares during the last quarter. Lazard Asset Management LLC raised its holdings in Energy Transfer by 8.3% in the third quarter. Lazard Asset Management LLC now owns 43,147 shares of the pipeline company’s stock valued at $605,000 after buying an additional 3,318 shares during the period. Truist Financial Corp raised its holdings in Energy Transfer by 1.4% in the third quarter. Truist Financial Corp now owns 921,933 shares of the pipeline company’s stock valued at $12,935,000 after buying an additional 12,371 shares during the period. Axxcess Wealth Management LLC purchased a new position in Energy Transfer in the third quarter valued at approximately $699,000. Finally, Lido Advisors LLC raised its holdings in Energy Transfer by 0.6% in the third quarter. Lido Advisors LLC now owns 174,393 shares of the pipeline company’s stock valued at $2,447,000 after buying an additional 1,100 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Trading Down 0.4 %

Shares of Energy Transfer stock opened at $16.33 on Tuesday. The company has a fifty day simple moving average of $15.76 and a 200-day simple moving average of $15.07. Energy Transfer has a 12-month low of $12.46 and a 12-month high of $16.48. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37. The stock has a market cap of $55.03 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 0.45 and a beta of 1.66.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The business had revenue of $21.63 billion for the quarter, compared to analyst estimates of $20.91 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. On average, equities analysts forecast that Energy Transfer will post 1.45 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were paid a dividend of $0.317 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a dividend yield of 7.76%. The ex-dividend date was Friday, May 10th. Energy Transfer’s dividend payout ratio (DPR) is currently 116.51%.

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.