Energy Transfer LP (NYSEAMERICAN:ET) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Shares of Energy Transfer LP (NYSEAMERICAN:ET – Get Free Report) have been given an average recommendation of “Moderate Buy” by the seventeen brokerages that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $24.60.

A number of research firms have recently issued reports on ET. Zacks Research lowered Energy Transfer from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Morgan Stanley upped their target price on Energy Transfer from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Tuesday, August 18th. Truist Financial raised their target price on Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Capital One Financial began coverage on Energy Transfer in a report on Tuesday, September 22nd. They set an “overweight” rating and a $26.00 price target on the stock. Finally, Stifel Nicolaus began coverage on shares of Energy Transfer in a report on Thursday, September 10th. They issued a “buy” rating and a $25.00 price objective for the company.

Read Our Latest Stock Analysis on ET

Energy Transfer News Summary

Here are the key news stories impacting Energy Transfer this week:

Energy Transfer Trading Down 0.9%

Shares of ET stock opened at $20.16 on Friday. The stock’s fifty day moving average is $20.73 and its two-hundred day moving average is $19.68. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.94 and a current ratio of 1.16. The firm has a market capitalization of $69.42 billion, a P/E ratio of 13.71, a PEG ratio of 0.73 and a beta of 0.62. Energy Transfer has a fifty-two week low of $16.18 and a fifty-two week high of $21.84.

Energy Transfer (NYSEAMERICAN:ET – Get Free Report) last released its earnings results on Tuesday, November 3rd. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%. During the same quarter in the previous year, the business posted $0.28 EPS. Research analysts expect that Energy Transfer will post 1.73 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Friday, November 6th will be issued a $0.3425 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.37 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date is Friday, November 6th. Energy Transfer’s payout ratio is currently 92.52%.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, Director Kelcy Warren purchased 647,968 shares of the stock in a transaction dated Wednesday, August 19th. The stock was acquired at an average cost of $21.26 per share, for a total transaction of $13,775,799.68. Following the acquisition, the director owned 147,901,879 shares in the company, valued at $3,144,393,947.54. This trade represents a 0.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Perry acquired 12,359 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were acquired at an average cost of $20.23 per share, with a total value of $250,022.57. Following the completion of the transaction, the director directly owned 208,046 shares in the company, valued at approximately $4,208,770.58. The trade was a 6.32% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders bought 1,012,359 shares of company stock worth $21,513,543. Corporate insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Energy Transfer

Hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE raised its position in shares of Energy Transfer by 5.7% during the 1st quarter. Bank of America Corp DE now owns 30,956,358 shares of the pipeline company’s stock worth $597,458,000 after purchasing an additional 1,656,609 shares during the period. Energy Income Partners LLC increased its position in Energy Transfer by 1.8% in the second quarter. Energy Income Partners LLC now owns 25,654,536 shares of the pipeline company’s stock worth $490,515,000 after buying an additional 447,081 shares during the period. Miller Howard Investments Inc. NY lifted its stake in Energy Transfer by 6.9% in the third quarter. Miller Howard Investments Inc. NY now owns 5,679,174 shares of the pipeline company’s stock valued at $112,277,000 after buying an additional 364,190 shares during the last quarter. Recurrent Investment Advisors LLC boosted its holdings in shares of Energy Transfer by 3.9% during the first quarter. Recurrent Investment Advisors LLC now owns 5,562,381 shares of the pipeline company’s stock valued at $107,354,000 after acquiring an additional 211,026 shares during the period. Finally, BlackRock Inc. grew its position in shares of Energy Transfer by 0.4% during the second quarter. BlackRock Inc. now owns 4,017,925 shares of the pipeline company’s stock worth $76,823,000 after acquiring an additional 16,926 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Company Profile

(Get Free Report)

Energy Transfer LP is a diversified energy infrastructure company headquartered in Dallas, Texas. The partnership owns and operates a broad network of pipelines, processing facilities, storage assets and terminals that support the movement of natural gas, natural gas liquids, crude oil and refined products across the United States.

The company’s operations include gathering and processing natural gas, transporting and storing natural gas and NGLs, fractionating NGLs into component products, and transporting crude oil and refined products.

Recommended Stories

Analyst Recommendations for Energy Transfer (NYSEAMERICAN:ET)

Receive News & Ratings for Energy Transfer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energy Transfer and related companies with MarketBeat.com's FREE daily email newsletter.