Brokerages Set Energy Transfer LP (NYSE:ET) PT at $20.82

Shares of Energy Transfer LP (NYSE:ET) have been assigned an average recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $21.18.

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus boosted their price target on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. The Goldman Sachs Group lifted their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Barclays raised their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Royal Bank of Canada upped their target price on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, Wells Fargo & Company raised their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th.

Energy Transfer Stock Up 1.5 %

Shares of NYSE ET opened at $20.29 on Wednesday. The stock has a market capitalization of $69.48 billion, a PE ratio of 14.92, a P/E/G ratio of 0.52 and a beta of 1.69. 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 fifty day moving average of $19.80 and a 200-day moving average of $17.81. Energy Transfer has a 52-week low of $14.52 and a 52-week high of $21.45.

Energy Transfer (NYSE:ET) last announced its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. On average, analysts anticipate that Energy Transfer will post 1.37 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be issued a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 6.41%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, February 7th. Energy Transfer’s dividend payout ratio is currently 101.56%.

Hedge Funds Weigh In On Energy Transfer

Institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can boosted its holdings in shares of Energy Transfer by 12,090.8% in the fourth 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 during the period. FMR LLC lifted its position in shares of Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after acquiring an additional 10,195,768 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new position in Energy Transfer in the 4th quarter worth approximately $79,113,000. International Assets Investment Management LLC grew its position in Energy Transfer by 1,491.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock worth $67,020,000 after purchasing an additional 3,913,266 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Energy Transfer by 36.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock valued at $185,594,000 after purchasing an additional 3,106,631 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

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.