Energy Transfer LP (NYSEAMERICAN:ET) Stock Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analysts rate Energy Transfer “Moderate Buy”: Of 17 covering firms, 12 recommend buying, two recommend strong buy, and three rate the stock hold. The average 12-month price target is $24.60 versus a recent price of $20.88.
• Recent performance was stronger than expected: Energy Transfer reported quarterly EPS of $0.59, beating the $0.38 consensus, while revenue rose 78.4% year over year to $34.33 billion.
• Insiders increased their holdings and the dividend rose: Insiders purchased more than 1 million shares worth approximately $21.5 million over the past three months. The quarterly dividend increased to $0.3425 per share, representing an annualized yield of about 6.6%.

Energy Transfer LP (NYSEAMERICAN:ET - Get Free Report) has received an average rating of "Moderate Buy" from the seventeen ratings firms that are covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $24.60.

ET has been the subject of several research reports. TD Cowen reaffirmed a "buy" rating and set a $25.00 price target (up from $24.00) on shares of Energy Transfer in a report on Monday, August 10th. Melius Research assumed coverage on shares of Energy Transfer in a report on Tuesday, September 22nd. They issued a "hold" rating and a $25.00 price objective on the stock. Capital One Financial initiated coverage on shares of Energy Transfer in a research report on Tuesday, September 22nd. They issued an "overweight" rating and a $26.00 price objective on the stock. Truist Financial raised their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Finally, Weiss Ratings upgraded shares of Energy Transfer from a "buy (b)" rating to a "buy (a-)" rating in a research note on Tuesday, September 8th.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director James Perry acquired 12,359 shares of the business's stock in a transaction on Friday, August 7th. The stock was purchased at an average price of $20.23 per share, with a total value of $250,022.57. Following the acquisition, the director directly owned 208,046 shares of the company's stock, valued at approximately $4,208,770.58. This trade represents a 6.32% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kelcy L. Warren bought 647,968 shares of the firm's stock in a transaction on Wednesday, August 19th. The shares were acquired at an average price of $21.26 per share, for a total transaction of $13,775,799.68. Following the transaction, the director owned 147,901,879 shares in the company, valued at approximately $3,144,393,947.54. This represents a 0.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 1,012,359 shares of company stock valued at $21,513,543. 3.28% of the stock is currently owned by company insiders.

Institutional Trading of Energy Transfer

Institutional investors have recently modified their holdings of the stock. Osbon Capital Management LLC bought a new stake in shares of Energy Transfer in the 2nd quarter worth $25,000. Sawyer & Company Inc bought a new position in shares of Energy Transfer during the third quarter valued at $30,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Energy Transfer during the first quarter valued at $35,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in shares of Energy Transfer during the second quarter valued at $42,000. Finally, Bullseye Investment Management LLC purchased a new stake in shares of Energy Transfer during the second quarter valued at $42,000. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Price Performance

ET stock opened at $20.88 on Friday. The stock has a 50-day moving average price of $20.77 and a two-hundred day moving average price of $19.63. Energy Transfer has a 1 year low of $16.18 and a 1 year high of $21.84. The stock has a market cap of $71.90 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 0.72 and a beta of 0.60. The company has a current ratio of 1.16, a quick ratio of 0.94 and a debt-to-equity ratio of 1.45.

Energy Transfer (NYSEAMERICAN:ET - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.21. The company had revenue of $34.33 billion for 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 was up 78.4% compared to the same quarter last year. During the same period last year, the company earned $0.32 earnings per share. Equities analysts forecast that Energy Transfer will post 1.73 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Friday, November 6th will be issued a dividend of $0.3425 per share. This is an increase from Energy Transfer's previous quarterly dividend of $0.34. This represents a $1.37 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date of this dividend is Friday, November 6th. Energy Transfer's payout ratio is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.