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

Shares of Energy Transfer LP (NYSE:ET) have been assigned a consensus rating of “Moderate Buy” from the eleven brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $21.55.

ET has been the subject of a number of research reports. The Goldman Sachs Group upped their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Wells Fargo & Company upped their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Stifel Nicolaus upped their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Royal Bank of Canada upped their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, Citigroup upped their price objective on shares of Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th.

Energy Transfer Stock Down 1.2 %

Shares of NYSE ET opened at $17.48 on Friday. The firm has a fifty day moving average of $19.81 and a 200-day moving average of $18.10. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. Energy Transfer has a 52-week low of $14.87 and a 52-week high of $21.45. The stock has a market capitalization of $59.97 billion, a PE ratio of 13.66, a P/E/G ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. On average, analysts anticipate that Energy Transfer will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid a $0.325 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 7.44%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is presently 101.56%.

Institutional Investors Weigh In On Energy Transfer

Large investors have recently made changes to their positions in the company. Empowered Funds LLC increased its stake in shares of Energy Transfer by 15.0% in the third quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock valued at $5,567,000 after purchasing an additional 45,172 shares during the period. Watts Gwilliam & Co. LLC bought a new position in shares of Energy Transfer in the fourth quarter valued at approximately $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in shares of Energy Transfer by 4.0% in the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock valued at $148,621,000 after acquiring an additional 293,088 shares in the last quarter. Forvis Mazars Wealth Advisors LLC boosted its holdings in shares of Energy Transfer by 164.1% in the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company’s stock valued at $1,186,000 after acquiring an additional 37,633 shares in the last quarter. Finally, Kingsview Wealth Management LLC boosted its holdings in shares of Energy Transfer by 30.9% in the third quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock valued at $3,885,000 after acquiring an additional 57,184 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

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.