Energy Transfer LP (NYSE:ET) Given Average Recommendation of “Buy” by Analysts

Shares of Energy Transfer LP (NYSE:ET – Get Rating) have earned an average rating of “Buy” from the eleven brokerages that are covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $14.00.

A number of analysts recently weighed in on ET shares. Raymond James increased their price objective on Energy Transfer from $13.00 to $14.00 and gave the company a “strong-buy” rating in a report on Thursday, February 17th. Zacks Investment Research upgraded Energy Transfer from a “hold” rating to a “strong-buy” rating and set a $13.00 price objective for the company in a report on Wednesday, March 30th. Mizuho increased their price objective on Energy Transfer from $13.00 to $14.00 in a report on Friday, February 18th. Finally, Morgan Stanley increased their price objective on Energy Transfer from $12.00 to $15.00 and gave the company an “overweight” rating in a report on Tuesday, April 26th.

In related news, Director Michael K. Grimm acquired 504,600 shares of the business’s stock in a transaction dated Wednesday, April 6th. The shares were bought at an average price of $11.21 per share, with a total value of $5,656,566.00. Following the transaction, the director now directly owns 181,089 shares of the company’s stock, valued at $2,030,007.69. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.28% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in ET. LPL Financial LLC lifted its position in Energy Transfer by 22.2% in the 3rd quarter. LPL Financial LLC now owns 1,332,774 shares of the pipeline company’s stock valued at $12,768,000 after acquiring an additional 242,542 shares in the last quarter. Enhancing Capital LLC bought a new position in Energy Transfer in the 4th quarter valued at about $664,000. Carroll Financial Associates Inc. lifted its position in Energy Transfer by 18.9% in the 4th quarter. Carroll Financial Associates Inc. now owns 19,122 shares of the pipeline company’s stock valued at $158,000 after acquiring an additional 3,044 shares in the last quarter. StrategIQ Financial Group LLC bought a new position in Energy Transfer in the 4th quarter valued at about $92,000. Finally, Keybank National Association OH lifted its position in Energy Transfer by 18.6% in the 4th quarter. Keybank National Association OH now owns 131,906 shares of the pipeline company’s stock valued at $1,086,000 after acquiring an additional 20,640 shares in the last quarter. 48.40% of the stock is currently owned by institutional investors.

Shares of ET traded up $0.25 during trading hours on Friday, reaching $11.42. The stock had a trading volume of 323,654 shares, compared to its average volume of 22,795,455. Energy Transfer has a 12 month low of $7.96 and a 12 month high of $12.48. The stock has a market capitalization of $35.24 billion, a PE ratio of 10.54 and a beta of 1.93. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.00 and a current ratio of 1.14. The company’s 50-day moving average is $11.11 and its two-hundred day moving average is $9.92.

Energy Transfer (NYSE:ET – Get Rating) last posted its quarterly earnings data on Wednesday, May 4th. The pipeline company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.12. The business had revenue of $20.49 billion during the quarter, compared to the consensus estimate of $18.79 billion. Energy Transfer had a return on equity of 10.25% and a net margin of 4.58%. Energy Transfer’s quarterly revenue was up 20.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 earnings per share. Equities analysts anticipate that Energy Transfer will post 1.3 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 19th. Stockholders of record on Monday, May 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 7.01%. The ex-dividend date was Friday, May 6th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.18. Energy Transfer’s dividend payout ratio is 75.47%.

Energy Transfer Company Profile (Get Rating)

Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,830 miles of interstate natural gas pipeline.

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