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

Shares of Energy Transfer LP (NYSE:ET) have been given a consensus recommendation of “Buy” by the eight brokerages that are currently covering the stock, MarketBeat.com reports. Eight research analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $20.00.

A number of brokerages have recently issued reports on ET. Bank of America started coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. Royal Bank of Canada upped their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, UBS Group increased their price target on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th.

Hedge Funds Weigh In On Energy Transfer

Institutional investors and hedge funds have recently modified their holdings of the business. Princeton Global Asset Management LLC increased its holdings in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 650 shares in the last quarter. Assetmark Inc. raised its position in shares of Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares during the last quarter. LRI Investments LLC purchased a new position in Energy Transfer in the 1st quarter valued at about $29,000. HWG Holdings LP acquired a new stake in Energy Transfer in the 2nd quarter worth about $33,000. Finally, Continuum Advisory LLC increased its stake in Energy Transfer by 44.8% during the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after buying an additional 729 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

Energy Transfer stock opened at $19.86 on Friday. Energy Transfer has a fifty-two week low of $13.11 and a fifty-two week high of $20.02. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The company has a 50 day moving average price of $16.99 and a 200-day moving average price of $16.30. The company has a market capitalization of $68.00 billion, a PE ratio of 14.60, a P/E/G ratio of 0.64 and a beta of 1.66.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. The company had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. Energy Transfer’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.31 earnings per share. As a group, equities analysts forecast that Energy Transfer will post 1.34 earnings per share for the current year.

Energy Transfer Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were paid a $0.3225 dividend. This represents a $1.29 annualized dividend and a dividend yield of 6.50%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio is currently 94.85%.

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.