Energy Transfer LP (NYSE:ET) Receives $20.55 Average Target Price from Analysts

Shares of Energy Transfer LP (NYSE:ET) have been assigned a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $20.55.

A number of research analysts have issued reports on the stock. Wells Fargo & Company upped their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. UBS Group raised their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Bank of America initiated coverage on Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. Barclays raised their price objective on Energy Transfer from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Finally, Royal Bank of Canada upped their target price on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th.

Hedge Funds Weigh In On Energy Transfer

Institutional investors and hedge funds have recently modified their holdings of the business. Tortoise Capital Advisors L.L.C. grew its holdings in Energy Transfer by 12.7% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock valued at $594,769,000 after purchasing an additional 4,141,715 shares during the period. FMR LLC grew its stake in Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after acquiring an additional 10,195,768 shares during the period. Westwood Holdings Group Inc. increased its holdings in Energy Transfer by 1.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 16,107,470 shares of the pipeline company’s stock worth $261,263,000 after acquiring an additional 171,720 shares in the last quarter. Chickasaw Capital Management LLC raised its position in Energy Transfer by 3.1% during the third quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company’s stock worth $246,376,000 after acquiring an additional 466,565 shares during the period. Finally, Brookfield Corp ON lifted its holdings in Energy Transfer by 2.8% during the third quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock valued at $210,896,000 after purchasing an additional 352,625 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

Shares of ET opened at $19.57 on Tuesday. 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 firm has a market cap of $67.01 billion, a PE ratio of 14.39, a P/E/G ratio of 0.63 and a beta of 1.70. Energy Transfer has a 12 month low of $13.60 and a 12 month high of $20.02. The stock has a fifty day moving average price of $18.16 and a 200-day moving average price of $16.82.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same quarter last year, the company earned $0.31 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. Equities research analysts predict that Energy Transfer will post 1.32 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given 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 6.59%. Energy Transfer’s dividend payout ratio (DPR) 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.