Energy Transfer LP (NYSE:ET) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Energy Transfer LP has received a recommendation of "Moderate Buy" from thirteen analysts, with an average 12-month target price of $22.50.
• The company recently declared a quarterly dividend of $0.33 per share, representing an annualized yield of 7.4%.
• Insider trading activity includes a significant purchase by Director Kelcy L. Warren of 1,350,000 shares at an average price of $17.36 per share.

Shares of Energy Transfer LP (NYSE:ET - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the thirteen ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $22.50.

ET has been the topic of a number of analyst reports. Wells Fargo & Company reiterated an "overweight" rating and issued a $23.00 price target (up previously from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. TD Cowen began coverage on Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating and a $22.00 target price on the stock. Mizuho increased their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Tuesday, May 20th. Cowen began coverage on shares of Energy Transfer in a research report on Monday, July 7th. They issued a "buy" rating on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a research report on Monday, May 19th.

Energy Transfer Trading Up 0.4%

NYSE:ET traded up $0.07 during mid-day trading on Friday, hitting $17.73. 8,953,355 shares of the company's stock were exchanged, compared to its average volume of 14,466,117. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. Energy Transfer has a fifty-two week low of $14.60 and a fifty-two week high of $21.45. The company has a 50 day simple moving average of $17.64 and a 200-day simple moving average of $17.81. The firm has a market capitalization of $60.84 billion, a P/E ratio of 13.74, a PEG ratio of 0.93 and a beta of 0.83.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts' consensus estimates of $0.32. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The company had revenue of $19.24 billion for the quarter, compared to analyst estimates of $24.07 billion. During the same quarter in the previous year, the business earned $0.35 earnings per share. Energy Transfer's revenue was down 7.2% compared to the same quarter last year. As a group, research analysts expect that Energy Transfer will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 7.4%. The ex-dividend date was Friday, August 8th. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio (DPR) is 102.33%.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $18.48, for a total transaction of $25,299.12. Following the completion of the sale, the director directly owned 24,523 shares in the company, valued at approximately $453,185.04. This trade represents a 5.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kelcy L. Warren purchased 1,350,000 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were acquired at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the acquisition, the director owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. This trade represents a 1.99% increase in their position. The disclosure for this purchase can be found here. Company insiders own 3.28% of the company's stock.

Institutional Trading of Energy Transfer

Large investors have recently bought and sold shares of the business. Strong Tower Advisory Services acquired a new stake in Energy Transfer in the first quarter worth $2,604,000. Prevail Innovative Wealth Advisors LLC grew its holdings in Energy Transfer by 316.9% in the first quarter. Prevail Innovative Wealth Advisors LLC now owns 117,312 shares of the pipeline company's stock worth $2,181,000 after purchasing an additional 89,173 shares during the period. Jefferies Financial Group Inc. grew its holdings in Energy Transfer by 125.0% in the fourth quarter. Jefferies Financial Group Inc. now owns 469,227 shares of the pipeline company's stock worth $9,192,000 after purchasing an additional 260,700 shares during the period. Commerce Bank acquired a new stake in Energy Transfer in the first quarter worth $92,607,000. Finally, Alps Advisors Inc. grew its holdings in Energy Transfer by 12.9% in the first quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company's stock worth $1,400,831,000 after purchasing an additional 8,613,645 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

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.