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

Shares of Energy Transfer LP (NYSE:ET - Get Free Report) have earned an average rating of "Moderate Buy" from the eleven analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $22.64.

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $23.00 price objective on shares of Energy Transfer in a research report on Tuesday, March 25th. Citigroup reaffirmed a "buy" rating on shares of Energy Transfer in a research note on Monday, March 24th. JPMorgan Chase & Co. reduced their price objective on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Finally, Mizuho upped their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Tuesday, May 20th.

Hedge Funds Weigh In On Energy Transfer

Hedge funds have recently bought and sold shares of the company. Forvis Mazars Wealth Advisors LLC grew its stake in Energy Transfer by 164.1% during the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company's stock valued at $1,186,000 after acquiring an additional 37,633 shares in the last quarter. Wedbush Securities Inc. grew its stake in Energy Transfer by 44.2% in the 4th quarter. Wedbush Securities Inc. now owns 135,281 shares of the pipeline company's stock worth $2,650,000 after buying an additional 41,438 shares in the last quarter. Greenland Capital Management LP purchased a new position in Energy Transfer in the 4th quarter worth approximately $2,253,000. Edmond DE Rothschild Holding S.A. purchased a new position in Energy Transfer in the 4th quarter worth approximately $597,000. Finally, Bank of Montreal Can grew its stake in Energy Transfer by 12,090.8% in the 4th quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company's stock worth $244,005,000 after buying an additional 12,353,441 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company's stock.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $18.14 on Tuesday. The firm has a 50 day moving average of $17.38 and a 200-day moving average of $18.57. The stock has a market capitalization of $62.25 billion, a PE ratio of 14.17, a PEG ratio of 0.64 and a beta of 0.78. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. Energy Transfer has a 12 month low of $14.60 and a 12 month high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. The company had revenue of $21.02 billion during the quarter, compared to analysts' expectations of $22.28 billion. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The business's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 EPS. On average, equities research analysts predict that Energy Transfer will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 9th were paid a dividend of $0.3275 per share. The ex-dividend date was Friday, May 9th. This represents a $1.31 annualized dividend and a yield of 7.22%. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is currently 99.24%.

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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