Q2 2024 EPS Estimates for Energy Transfer LP Reduced by US Capital Advisors (NYSE:ET)

Energy Transfer LP (NYSE:ET) – Analysts at US Capital Advisors cut their Q2 2024 EPS estimates for shares of Energy Transfer in a research report issued on Tuesday, May 21st. US Capital Advisors analyst J. Carreker now expects that the pipeline company will post earnings of $0.26 per share for the quarter, down from their prior forecast of $0.28. The consensus estimate for Energy Transfer’s current full-year earnings is $1.54 per share. US Capital Advisors also issued estimates for Energy Transfer’s Q3 2024 earnings at $0.30 EPS, Q4 2024 earnings at $0.34 EPS, FY2024 earnings at $1.22 EPS, Q1 2025 earnings at $0.36 EPS, Q2 2025 earnings at $0.31 EPS, Q3 2025 earnings at $0.33 EPS, Q4 2025 earnings at $0.36 EPS, FY2025 earnings at $1.36 EPS and FY2026 earnings at $1.43 EPS.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The business had revenue of $21.63 billion during the quarter, compared to analyst estimates of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The business’s revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 earnings per share.

A number of other research firms have also weighed in on ET. Stifel Nicolaus lifted their price objective on shares of Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Citigroup lifted their price objective on shares of Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. UBS Group boosted their target price on shares of Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Finally, Mizuho restated a “buy” rating and set a $19.00 target price (up from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.43.

Energy Transfer Stock Performance

NYSE:ET opened at $15.93 on Wednesday. The firm’s fifty day moving average price is $15.73 and its 200 day moving average price is $14.61. Energy Transfer has a 1-year low of $12.31 and a 1-year high of $16.40. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00. The firm has a market cap of $53.68 billion, a price-to-earnings ratio of 14.61 and a beta of 1.63.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were issued a dividend of $0.317 per share. The ex-dividend date was Friday, May 10th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.96%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is presently 116.51%.

Institutional Trading of Energy Transfer

Institutional investors have recently modified their holdings of the company. Rehmann Capital Advisory Group boosted its holdings in Energy Transfer by 2.0% in the 1st quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock worth $505,000 after acquiring an additional 633 shares during the period. Sfmg LLC boosted its holdings in Energy Transfer by 2.2% in the 1st quarter. Sfmg LLC now owns 31,406 shares of the pipeline company’s stock worth $494,000 after acquiring an additional 674 shares during the period. FinTrust Capital Advisors LLC boosted its holdings in Energy Transfer by 3.6% in the 1st quarter. FinTrust Capital Advisors LLC now owns 20,201 shares of the pipeline company’s stock worth $318,000 after acquiring an additional 700 shares during the period. Essex Financial Services Inc. boosted its holdings in Energy Transfer by 2.2% in the 1st quarter. Essex Financial Services Inc. now owns 33,569 shares of the pipeline company’s stock worth $528,000 after acquiring an additional 708 shares during the period. Finally, Veracity Capital LLC boosted its holdings in Energy Transfer by 2.2% in the 1st quarter. Veracity Capital LLC now owns 32,916 shares of the pipeline company’s stock worth $518,000 after acquiring an additional 713 shares during the period. Hedge funds and other institutional investors 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.