Brokers Set Expectations for Energy Transfer FY2024 Earnings

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

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

A number of other research firms have also commented on ET. Bank of America began coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective on the stock. Royal Bank of Canada increased their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, UBS Group boosted 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. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $20.00.

Energy Transfer Stock Up 2.3 %

ET stock opened at $19.86 on Thursday. The company has a market cap of $68.00 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 0.62 and a beta of 1.66. The company has a fifty day moving average price of $16.99 and a 200 day moving average price of $16.30. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. Energy Transfer has a 12 month low of $13.11 and a 12 month high of $20.02.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a $0.3225 dividend. This represents a $1.29 annualized dividend and a yield of 6.50%. 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 made changes to their positions in the stock. Silvercrest Asset Management Group LLC boosted its holdings in Energy Transfer by 31.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 159,264 shares of the pipeline company’s stock worth $2,505,000 after buying an additional 38,383 shares in the last quarter. Tidal Investments LLC increased its stake in Energy Transfer by 12.9% in the 1st quarter. Tidal Investments LLC now owns 86,196 shares of the pipeline company’s stock valued at $1,342,000 after purchasing an additional 9,849 shares in the last quarter. LRI Investments LLC purchased a new position in Energy Transfer in the 1st quarter valued at approximately $29,000. Sanibel Captiva Trust Company Inc. raised its stake in shares of Energy Transfer by 18.5% during the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 23,875 shares of the pipeline company’s stock worth $376,000 after buying an additional 3,725 shares during the last quarter. Finally, Burney Co. raised its position in Energy Transfer by 288.1% during the first quarter. Burney Co. now owns 63,046 shares of the pipeline company’s stock worth $992,000 after acquiring an additional 46,800 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

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.