Energy Transfer LP to Post Q2 2024 Earnings of $0.29 Per Share, US Capital Advisors Forecasts (NYSE:ET)

Energy Transfer LP (NYSE:ET) – Equities research analysts at US Capital Advisors boosted their Q2 2024 earnings per share (EPS) estimates for Energy Transfer in a report released on Monday, July 29th. US Capital Advisors analyst J. Carreker now expects that the pipeline company will post earnings per share of $0.29 for the quarter, up from their previous forecast of $0.26. The consensus estimate for Energy Transfer’s current full-year earnings is $1.49 per share. US Capital Advisors also issued estimates for Energy Transfer’s Q3 2024 earnings at $0.34 EPS, Q4 2024 earnings at $0.37 EPS, FY2024 earnings at $1.32 EPS, Q1 2025 earnings at $0.40 EPS, Q2 2025 earnings at $0.35 EPS, Q3 2025 earnings at $0.36 EPS, Q4 2025 earnings at $0.40 EPS, FY2025 earnings at $1.51 EPS and FY2026 earnings at $1.58 EPS.

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

Other equities analysts have also issued reports about the company. Morgan Stanley boosted their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. JPMorgan Chase & Co. boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. Mizuho boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. UBS Group boosted their target price on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Finally, Stifel Nicolaus boosted their target price on Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.29.

Energy Transfer Price Performance

Shares of ET opened at $15.95 on Thursday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. The stock has a 50 day simple moving average of $15.92 and a 200 day simple moving average of $15.42. Energy Transfer has a 52-week low of $12.46 and a 52-week high of $16.50. The firm has a market capitalization of $53.75 billion, a PE ratio of 14.63, a P/E/G ratio of 0.42 and a beta of 1.66.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS Group AG grew its holdings in shares of Energy Transfer by 13.3% during the 4th quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company’s stock worth $395,270,000 after purchasing an additional 3,368,427 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Energy Transfer by 38.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock worth $353,576,000 after purchasing an additional 7,097,074 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Energy Transfer by 18.5% during the 4th quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock worth $350,845,000 after purchasing an additional 3,976,676 shares in the last quarter. First Reserve GP XIII Ltd acquired a new stake in shares of Energy Transfer during the 4th quarter worth $322,097,000. Finally, Natixis grew its holdings in shares of Energy Transfer by 20.0% during the 1st quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock worth $283,463,000 after purchasing an additional 2,999,300 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Friday, August 9th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 8.03%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, August 9th. Energy Transfer’s dividend payout ratio is currently 117.43%.

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.