Energy Transfer LP (NYSE:ET) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Energy Transfer LP received a consensus rating of "Moderate Buy" from fourteen research firms, with thirteen analysts recommending a buy.
• The company currently has an average 1-year price target of $22.50 among analysts, reflecting a positive outlook on its stock performance.
• Energy Transfer recently increased its quarterly dividend to $0.33 per share, resulting in an annualized dividend yield of 7.6%.

Energy Transfer LP (NYSE:ET - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the fourteen research firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $22.50.

ET has been the subject of several research reports. TD Cowen initiated coverage on Energy Transfer in a research report on Monday, July 7th. They set a "buy" rating and a $22.00 price target for the company. Scotiabank initiated coverage on Energy Transfer in a research report on Tuesday, September 2nd. They set a "sector outperform" rating and a $23.00 price target for the company. Wells Fargo & Company reiterated an "overweight" rating and set a $23.00 price target (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Cowen initiated coverage on Energy Transfer in a research report on Monday, July 7th. They set a "buy" rating for the company. Finally, Morgan Stanley dropped their price target on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating for the company in a research report on Tuesday, August 26th.

Energy Transfer Trading Up 1.7%

Shares of ET stock opened at $17.40 on Thursday. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92. The company has a market cap of $59.71 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 1.01 and a beta of 0.85. The stock has a 50 day simple moving average of $17.52 and a 200-day simple moving average of $17.60. Energy Transfer has a 1-year low of $14.60 and a 1-year high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last announced its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $19.24 billion during the quarter, compared to the consensus estimate of $24.07 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The business's quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 EPS. On average, equities research analysts expect that Energy Transfer will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were given a dividend of $0.33 per share. The ex-dividend date was Friday, August 8th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.32 annualized dividend and a dividend yield of 7.6%. Energy Transfer's dividend payout ratio (DPR) is presently 102.33%.

Insider Activity at Energy Transfer

In related news, Director Kelcy L. Warren bought 1,350,000 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was bought at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the acquisition, the director directly owned 69,178,477 shares in the company, valued at $1,200,938,360.72. This represents a 1.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.28% of the company's stock.

Institutional Trading of Energy Transfer

Large investors have recently added to or reduced their stakes in the stock. Ryan Investment Management Inc. purchased a new stake in Energy Transfer in the 2nd quarter valued at $31,000. Vision Financial Markets LLC purchased a new stake in Energy Transfer in the 1st quarter valued at $33,000. CNB Bank grew its holdings in Energy Transfer by 111.1% in the 2nd quarter. CNB Bank now owns 1,900 shares of the pipeline company's stock valued at $34,000 after buying an additional 1,000 shares in the last quarter. HWG Holdings LP purchased a new stake in Energy Transfer in the 1st quarter valued at $38,000. Finally, Stone House Investment Management LLC purchased a new stake in Energy Transfer in the 1st quarter valued at $38,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Company Profile

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.

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