Energy Transfer LP (NYSE:ET) Receives $19.29 Average Price Target from Analysts

Shares of Energy Transfer LP (NYSE:ET) have been assigned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $19.29.

A number of analysts recently commented on ET shares. Morgan Stanley upped their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Mizuho upped their price objective on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Finally, JPMorgan Chase & Co. upped their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th.

Energy Transfer Stock Down 1.0 %

Energy Transfer stock opened at $16.02 on Friday. The firm has a market cap of $53.97 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 0.46 and a beta of 1.66. The stock has a fifty day simple moving average of $16.06 and a two-hundred day simple moving average of $15.81. Energy Transfer has a 12 month low of $12.90 and a 12 month high of $16.50. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The business had revenue of $20.73 billion during the quarter, compared to the consensus estimate of $22.01 billion. During the same period in the previous year, the business posted $0.25 EPS. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. Equities analysts predict that Energy Transfer will post 1.4 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were given a $0.32 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a yield of 7.99%. Energy Transfer’s dividend payout ratio is presently 117.43%.

Insiders Place Their Bets

In related news, EVP Gregory G. Mcilwain purchased 20,000 shares of Energy Transfer stock in a transaction on Friday, August 23rd. The stock was acquired at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the transaction, the executive vice president now directly owns 591,211 shares in the company, valued at approximately $9,270,188.48. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other Energy Transfer news, Director Kelcy L. Warren bought 3,000,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the transaction, the director now owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gregory G. Mcilwain bought 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the transaction, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. The disclosure for this purchase can be found here. Insiders purchased a total of 3,040,000 shares of company stock worth $47,667,200 over the last quarter. 3.28% of the stock is currently owned by corporate insiders.

Institutional Trading of Energy Transfer

Several institutional investors have recently made changes to their positions in the business. LRI Investments LLC bought a new position in Energy Transfer during the first quarter valued at approximately $29,000. HWG Holdings LP bought a new position in Energy Transfer during the second quarter valued at approximately $33,000. Atlantic Edge Private Wealth Management LLC bought a new position in Energy Transfer during the fourth quarter valued at approximately $33,000. Ables Iannone Moore & Associates Inc. bought a new position in Energy Transfer during the fourth quarter valued at approximately $34,000. Finally, Hudson Edge Investment Partners Inc. bought a new position in Energy Transfer during the second quarter valued at approximately $42,000. 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.