Energy Transfer LP (NYSE:ET) Given Average Rating of “Moderate Buy” by Brokerages

Energy Transfer LP (NYSE:ET) has been assigned a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $20.82.

A number of equities research analysts have weighed in on the company. Barclays upped their target price on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Bank of America assumed coverage on Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. Royal Bank of Canada upped their target price on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company upped their price target on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Finally, The Goldman Sachs Group upped their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th.

Institutional Trading of Energy Transfer

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC purchased a new stake in shares of Energy Transfer in the fourth quarter valued at $29,000. Princeton Global Asset Management LLC lifted its holdings in shares of Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 1,668 shares in the last quarter. Financial Life Planners purchased a new stake in shares of Energy Transfer during the fourth quarter worth $37,000. Finally, HWG Holdings LP purchased a new stake in shares of Energy Transfer during the second quarter worth $33,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $20.93 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The stock has a 50 day simple moving average of $19.31 and a 200-day simple moving average of $17.31. The company has a market cap of $71.68 billion, a PE ratio of 15.39, a P/E/G ratio of 0.55 and a beta of 1.70. Energy Transfer has a 12-month low of $13.79 and a 12-month high of $21.45.

Energy Transfer (NYSE:ET) last released 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 firm had revenue of $20.77 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.31 earnings per share. On average, equities research analysts forecast that Energy Transfer will post 1.37 EPS for the current year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were issued a $0.3225 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.16%. Energy Transfer’s payout ratio is currently 94.85%.

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.