Energy Transfer LP (NYSE:ET) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Energy Transfer LP (NYSE:ET) has received an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $20.55.

Several equities research analysts recently commented on ET shares. Bank of America started coverage on Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target for the company. UBS Group raised their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Barclays boosted their price target on shares of Energy Transfer from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Wells Fargo & Company raised their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada increased their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th.

Energy Transfer Trading Up 1.5 %

Shares of ET stock opened at $19.57 on Tuesday. Energy Transfer has a fifty-two week low of $13.60 and a fifty-two week high of $20.02. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The stock’s fifty day moving average is $18.16 and its two-hundred day moving average is $16.82. The firm has a market capitalization of $67.01 billion, a P/E ratio of 14.39, a PEG ratio of 0.63 and a beta of 1.70.

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

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a yield of 6.59%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

Hedge Funds Weigh In On Energy Transfer

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC boosted its position in Energy Transfer by 15.0% in the 3rd quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock valued at $5,567,000 after buying an additional 45,172 shares during the period. Kingsview Wealth Management LLC boosted its holdings in Energy Transfer by 30.9% in the third quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock valued at $3,885,000 after purchasing an additional 57,184 shares during the period. FMR LLC grew its stake in Energy Transfer by 44.0% during the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after purchasing an additional 10,195,768 shares in the last quarter. Clear Street Derivatives LLC purchased a new stake in Energy Transfer during the 3rd quarter worth about $2,565,000. Finally, GFS Advisors LLC raised its position in Energy Transfer by 19,380.5% in the 3rd quarter. GFS Advisors LLC now owns 60,000 shares of the pipeline company’s stock valued at $963,000 after purchasing an additional 59,692 shares in the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

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.