Energy Transfer LP (NYSE:ET) Stock Has Consensus Target Price of $24.36 According to Brokerages

Key Points

• Analysts have a Moderate Buy consensus on Energy Transfer, with 14 of 17 covering firms recommending buy or strong buy. The average 12-month price target is $24.36, above the reported share price of $20.45.
• Energy Transfer reported quarterly EPS of $0.59, beating the $0.38 consensus estimate, while revenue rose 78.4% year over year to $34.33 billion.
• The company increased its quarterly dividend to $0.34 per share, representing a 6.6% annualized yield. Insiders also purchased more than 1 million shares worth approximately $21.5 million over the past 90 days.

Energy Transfer LP (NYSE:ET - Get Free Report) has received an average recommendation of "Moderate Buy" from the seventeen ratings firms that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $24.36.

Several brokerages recently issued reports on ET. Weiss Ratings raised shares of Energy Transfer from a "buy (b)" rating to a "buy (a-)" rating in a research note on Tuesday, September 8th. Royal Bank Of Canada reiterated an "outperform" rating and set a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, July 21st. TD Cowen reissued a "buy" rating and issued a $25.00 price target (up from $24.00) on shares of Energy Transfer in a research note on Monday, August 10th. JPMorgan Chase & Co. lifted their price target on Energy Transfer from $24.00 to $25.00 and gave the company an "overweight" rating in a report on Friday, September 4th. Finally, Zacks Research downgraded shares of Energy Transfer from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 11th.

Insider Buying and Selling at Energy Transfer

In other news, Director Kelcy L. Warren purchased 647,968 shares of the company's stock in a transaction on Wednesday, August 19th. The stock was bought at an average cost of $21.26 per share, for a total transaction of $13,775,799.68. Following the completion of the purchase, the director directly owned 147,901,879 shares of the company's stock, valued at $3,144,393,947.54. The trade was a 0.44% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James Perry acquired 12,359 shares of the business's stock in a transaction dated Friday, August 7th. The stock was purchased at an average price of $20.23 per share, for a total transaction of $250,022.57. Following the completion of the acquisition, the director owned 208,046 shares in the company, valued at approximately $4,208,770.58. This trade represents a 6.32% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 1,012,359 shares of company stock worth $21,513,543 over the last ninety days. Corporate insiders own 3.28% of the company's stock.

Institutional Investors Weigh In On Energy Transfer

Several large investors have recently made changes to their positions in the business. Osbon Capital Management LLC purchased a new stake in Energy Transfer during the 2nd quarter worth $25,000. Cassaday & Co Wealth Management LLC purchased a new position in Energy Transfer in the first quarter valued at about $35,000. Vermillion Wealth Management Inc. lifted its stake in shares of Energy Transfer by 69.5% during the fourth quarter. Vermillion Wealth Management Inc. now owns 2,351 shares of the pipeline company's stock worth $39,000 after purchasing an additional 964 shares in the last quarter. Financial Life Planners acquired a new position in shares of Energy Transfer during the first quarter worth about $40,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in shares of Energy Transfer in the second quarter worth about $42,000. Institutional investors and hedge funds own 38.22% of the company's stock.

Energy Transfer Trading Down 0.1%

Shares of Energy Transfer stock opened at $20.45 on Monday. Energy Transfer has a 1 year low of $16.18 and a 1 year high of $21.84. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.16 and a quick ratio of 0.94. The business has a 50 day moving average price of $20.87 and a 200 day moving average price of $19.94. The company has a market capitalization of $70.43 billion, a P/E ratio of 13.92, a P/E/G ratio of 0.69 and a beta of 0.60.

Energy Transfer (NYSE:ET - Get Free Report) last announced its earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.21. The firm had revenue of $34.33 billion during the quarter, compared to the consensus estimate of $27.71 billion. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The firm's revenue for the quarter was up 78.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 EPS. Sell-side analysts anticipate that Energy Transfer will post 1.73 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $1.36 annualized dividend and a dividend yield of 6.6%. This is a boost from Energy Transfer's previous quarterly dividend of $0.3375. Energy Transfer's dividend payout ratio is presently 92.52%.

Energy Transfer Company Profile

Energy Transfer LP is a diversified energy infrastructure company headquartered in Dallas, Texas. The partnership owns and operates a broad network of pipelines, processing facilities, storage assets and terminals that support the movement of natural gas, natural gas liquids, crude oil and refined products across the United States.

The company's operations include gathering and processing natural gas, transporting and storing natural gas and NGLs, fractionating NGLs into component products, and transporting crude oil and refined products.

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