Energy Transfer LP (NYSE:ET) Receives $19.29 Consensus Target Price from Analysts

Shares of Energy Transfer LP (NYSE:ET) have received an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $19.14.

ET has been the topic of several research reports. Morgan Stanley increased their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. JPMorgan Chase & Co. increased their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. UBS Group upped their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Mizuho lifted their target price on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 18th.

Insiders Place Their Bets

In other Energy Transfer news, EVP Gregory G. Mcilwain bought 20,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the transaction, the executive vice president now owns 591,211 shares of the company’s stock, valued at $9,270,188.48. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Gregory G. Mcilwain bought 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the transaction, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kelcy L. Warren purchased 3,000,000 shares of Energy Transfer stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the transaction, the director now owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The disclosure for this purchase can be found here. Insiders acquired 3,040,000 shares of company stock valued at $47,667,200 in the last ninety days. Insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new position in Energy Transfer during the 1st quarter worth $29,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Energy Transfer during the fourth quarter worth about $33,000. HWG Holdings LP purchased a new position in shares of Energy Transfer during the second quarter worth about $33,000. Ables Iannone Moore & Associates Inc. acquired a new position in Energy Transfer in the 4th quarter valued at about $34,000. Finally, Adirondack Trust Co. purchased a new stake in Energy Transfer during the 4th quarter valued at approximately $42,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.2 %

Energy Transfer stock opened at $16.20 on Friday. 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 firm has a 50 day moving average price of $16.06 and a 200 day moving average price of $15.83. Energy Transfer has a fifty-two week low of $12.90 and a fifty-two week high of $16.50. The company has a market capitalization of $54.59 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 0.46 and a beta of 1.66.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The firm had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $22.01 billion. During the same quarter in the prior year, the firm posted $0.25 EPS. Energy Transfer’s quarterly revenue was up 13.1% compared to the same quarter last year. Research analysts expect that Energy Transfer will post 1.4 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 7.90%. 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 117.43%.

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.