Energy Transfer LP (NYSE:ET) Receives $20.00 Average Target Price from Brokerages

Shares of Energy Transfer LP (NYSE:ET) have earned a consensus rating of “Buy” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have covered the stock in the last year is $20.00.

Several analysts have commented on ET shares. 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 note on Thursday, June 20th. UBS Group upped their price objective on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Mizuho boosted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 18th.

Energy Transfer Stock Up 1.0 %

NYSE ET opened at $16.52 on Thursday. The business has a fifty day moving average price of $16.04 and a 200 day moving average price of $15.92. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14. The company has a market cap of $55.67 billion, a P/E ratio of 15.16, a P/E/G ratio of 0.50 and a beta of 1.66. Energy Transfer has a one year low of $12.90 and a one year high of $16.64.

Energy Transfer (NYSE:ET) last posted 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). The company had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 EPS. Research analysts anticipate that Energy Transfer will post 1.35 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 7.75%. The ex-dividend date was Friday, August 9th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is presently 117.43%.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, CEO Thomas E. Long acquired 20,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were bought at an average cost of $15.68 per share, with a total value of $313,600.00. Following the purchase, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Thomas E. Long purchased 20,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the purchase, the chief executive officer now directly owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kelcy L. Warren purchased 3,000,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the acquisition, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 3,040,000 shares of company stock valued at $47,667,200 in the last ninety days. 3.28% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. LRI Investments LLC acquired a new stake in Energy Transfer during the first quarter worth about $29,000. HWG Holdings LP acquired a new stake in shares of Energy Transfer in the 2nd quarter valued at $33,000. Sugarloaf Wealth Management LLC lifted its position in Energy Transfer by 43.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after acquiring an additional 750 shares during the last quarter. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Energy Transfer in the fourth quarter valued at about $34,000. Finally, Hudson Edge Investment Partners Inc. purchased a new position in shares of Energy Transfer during the 2nd quarter worth approximately $42,000. 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.