Analysts Set Energy Transfer LP (NYSE:ET) Target Price at $22.58

Key Points

• Energy Transfer LP (NYSE:ET) has received an average rating of "Moderate Buy" from thirteen research firms, with twelve analysts assigning a buy rating and one a hold rating.
• The company's average twelve-month price target is $22.58, reflecting adjusted targets by various analysts, including a decrease from JPMorgan Chase & Co.
• Energy Transfer will pay a quarterly dividend of $0.33 per share on August 19th, representing a dividend yield of 7.4% based on the latest share price.

Shares of Energy Transfer LP (NYSE:ET - Get Free Report) have received an average recommendation of "Moderate Buy" from the thirteen analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $22.5833.

Several analysts recently issued reports on ET shares. Cowen began coverage on Energy Transfer in a report on Monday, July 7th. They set a "buy" rating for the company. Mizuho boosted their price target on Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Tuesday, May 20th. TD Cowen began coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a "buy" rating and a $22.00 price objective on the stock. JPMorgan Chase & Co. cut their price target on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Finally, Wells Fargo & Company cut their target price on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th.

Energy Transfer Stock Down 1.3%

NYSE ET traded down $0.24 on Wednesday, hitting $17.62. 19,251,630 shares of the stock traded hands, compared to its average volume of 15,663,264. The company has a current ratio of 1.12, a quick ratio of 0.92 and a debt-to-equity ratio of 1.41. The stock has a 50-day moving average of $17.79 and a 200 day moving average of $18.18. Energy Transfer has a twelve month low of $14.60 and a twelve month high of $21.45. The company has a market capitalization of $60.48 billion, a P/E ratio of 13.35, a price-to-earnings-growth ratio of 0.92 and a beta of 0.83.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.88% and a return on equity of 11.47%. The company had revenue of $19.24 billion during the quarter, compared to analyst estimates of $24.07 billion. During the same quarter last year, the firm posted $0.35 EPS. The business's revenue for the quarter was down 7.2% on a year-over-year basis. As a group, analysts expect that Energy Transfer will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th will be paid a dividend of $0.33 per share. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.32 annualized dividend and a yield of 7.5%. The ex-dividend date of this dividend is Friday, August 8th. Energy Transfer's payout ratio is currently 99.24%.

Insiders Place Their Bets

In related news, Director James Richard Perry sold 1,369 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $18.48, for a total transaction of $25,299.12. Following the sale, the director directly owned 24,523 shares in the company, valued at $453,185.04. This represents a 5.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.28% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Capital A Wealth Management LLC acquired a new stake in Energy Transfer in the fourth quarter worth about $26,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Energy Transfer during the 4th quarter worth approximately $29,000. Ryan Investment Management Inc. bought a new stake in shares of Energy Transfer during the second quarter worth approximately $31,000. Vision Financial Markets LLC acquired a new position in Energy Transfer in the first quarter valued at approximately $33,000. Finally, CNB Bank boosted its stake in Energy Transfer by 111.1% in the second quarter. CNB Bank now owns 1,900 shares of the pipeline company's stock valued at $34,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company's stock.

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.