Analysts Set Energy Transfer LP (NYSE:ET) Target Price at $20.00

Energy Transfer LP (NYSE:ET) has been assigned a consensus recommendation of “Buy” from the eight analysts that are covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have covered the stock in the last year is $20.00.

Several equities research analysts have recently commented on ET shares. Royal Bank of Canada upped 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. UBS Group boosted their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Bank of America assumed coverage on Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target for the company.

Insider Buying and Selling

In other 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 shares were acquired at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the transaction, the director now owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal 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 company’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the transaction, the director now owns 123,385,650 shares in the company, valued at $1,934,686,992. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Gregory G. Mcilwain purchased 20,000 shares of Energy Transfer stock in a transaction on Friday, August 23rd. The shares were acquired at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the transaction, the executive vice president now owns 591,211 shares of the company’s stock, valued at $9,270,188.48. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 3,040,000 shares of company stock valued at $47,667,200. Insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Energy Transfer

Several hedge funds have recently modified their holdings of the stock. Tortoise Capital Advisors L.L.C. lifted its holdings in Energy Transfer by 12.7% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock worth $594,769,000 after buying an additional 4,141,715 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Energy Transfer by 1,491.0% in the third quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock worth $67,020,000 after acquiring an additional 3,913,266 shares in the last quarter. Natixis boosted its holdings in Energy Transfer by 20.0% in the first quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock valued at $283,463,000 after purchasing an additional 2,999,300 shares during the last quarter. Payden & Rygel Investment Group purchased a new position in Energy Transfer in the first quarter valued at about $20,164,000. Finally, Pathway Financial Advisers LLC grew its stake in Energy Transfer by 1,837.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,338,885 shares of the pipeline company’s stock valued at $21,489,000 after purchasing an additional 1,269,778 shares in the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Trading Up 3.1 %

Shares of Energy Transfer stock opened at $17.43 on Monday. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38. The firm has a market cap of $59.63 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66. Energy Transfer has a 52-week low of $13.01 and a 52-week high of $17.50. The company’s 50-day simple moving average is $16.25 and its 200-day simple moving average is $16.03.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share 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 for the quarter, compared to analyst estimates of $22.01 billion. During the same period in the prior year, the company earned $0.25 EPS. The company’s revenue was up 13.1% on a year-over-year basis. As a group, equities research analysts anticipate that Energy Transfer will post 1.35 earnings per share for the current year.

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Friday, November 8th will be given a $0.3225 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 7.40%. Energy Transfer’s dividend payout ratio is presently 107.56%.

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.