Energy Transfer LP (NYSE:ET) Forecasted to Earn FY2024 Earnings of $1.28 Per Share

Energy Transfer LP (NYSE:ET - Free Report) - Stock analysts at US Capital Advisors cut their FY2024 earnings per share (EPS) estimates for shares of Energy Transfer in a report released on Monday, April 29th. US Capital Advisors analyst J. Carreker now expects that the pipeline company will post earnings per share of $1.28 for the year, down from their prior forecast of $1.33. The consensus estimate for Energy Transfer's current full-year earnings is $1.57 per share. US Capital Advisors also issued estimates for Energy Transfer's Q4 2024 earnings at $0.35 EPS, Q1 2025 earnings at $0.38 EPS, Q2 2025 earnings at $0.32 EPS, Q3 2025 earnings at $0.34 EPS, Q4 2025 earnings at $0.37 EPS, FY2025 earnings at $1.40 EPS and FY2026 earnings at $1.48 EPS.

Other equities analysts have also issued research reports about the company. Citigroup lifted their price target on Energy Transfer from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Wednesday, February 21st. Mizuho reiterated a "buy" rating and issued a $19.00 price objective (up from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. Finally, UBS Group lowered their price objective on Energy Transfer from $23.00 to $22.00 and set a "buy" rating on the stock in a report on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $18.00.

Energy Transfer Stock Performance

Shares of NYSE ET traded down $0.25 during trading on Wednesday, reaching $15.48. 13,232,518 shares of the company traded hands, compared to its average volume of 12,265,159. The firm's fifty day simple moving average is $15.42 and its 200 day simple moving average is $14.37. The stock has a market cap of $52.16 billion, a P/E ratio of 14.20 and a beta of 1.64. Energy Transfer has a 12-month low of $12.18 and a 12-month high of $16.07. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.08. The company had revenue of $20.53 billion during the quarter, compared to analyst estimates of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The firm's quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the business posted $0.34 EPS.

Institutional Trading of Energy Transfer

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its position in shares of Energy Transfer by 4.3% during the first quarter. Janney Montgomery Scott LLC now owns 499,752 shares of the pipeline company's stock worth $7,861,000 after acquiring an additional 20,786 shares during the period. Retirement Group LLC grew its stake in shares of Energy Transfer by 49.9% during the first quarter. Retirement Group LLC now owns 9,787 shares of the pipeline company's stock worth $154,000 after purchasing an additional 3,260 shares in the last quarter. Mission Wealth Management LP grew its stake in shares of Energy Transfer by 54.9% during the first quarter. Mission Wealth Management LP now owns 29,053 shares of the pipeline company's stock worth $457,000 after purchasing an additional 10,294 shares in the last quarter. Flynn Zito Capital Management LLC acquired a new position in shares of Energy Transfer during the first quarter worth $385,000. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Energy Transfer by 8.6% during the first quarter. Sequoia Financial Advisors LLC now owns 35,531 shares of the pipeline company's stock worth $559,000 after purchasing an additional 2,804 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company's stock.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be given a $0.317 dividend. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.27 dividend on an annualized basis and a yield of 8.19%. Energy Transfer's payout ratio is presently 115.60%.

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.