Analysts Set Energy Transfer LP (NYSE:ET) PT at $20.00

Energy Transfer LP (NYSE:ET) has earned an average recommendation of “Buy” from the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have issued a report on the stock in the last year is $20.00.

ET has been the subject of a number of recent analyst reports. UBS Group boosted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Bank of America initiated coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective for the company. Finally, Royal Bank of Canada increased their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th.

Energy Transfer Trading Up 0.6 %

Shares of Energy Transfer stock opened at $19.09 on Friday. Energy Transfer has a fifty-two week low of $13.11 and a fifty-two week high of $20.02. The business’s fifty day moving average is $17.23 and its two-hundred day moving average is $16.39. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The firm has a market cap of $65.36 billion, a PE ratio of 14.04, a P/E/G ratio of 0.63 and a beta of 1.70.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. During the same period in the prior year, the business posted $0.31 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. Analysts anticipate that Energy Transfer will post 1.32 earnings per share for the current year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a $0.3225 dividend. This represents a $1.29 annualized dividend and a yield of 6.76%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Institutional Investors Weigh In On Energy Transfer

Large investors have recently modified their holdings of the stock. Princeton Global Asset Management LLC grew its holdings in Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares in the last quarter. Assetmark Inc. boosted its position in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after buying an additional 1,668 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Energy Transfer during the first quarter valued at about $29,000. HWG Holdings LP purchased a new stake in shares of Energy Transfer during the second quarter worth about $33,000. Finally, Continuum Advisory LLC lifted its stake in shares of Energy Transfer by 44.8% in the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 729 shares in 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.