Energy Transfer LP (NYSE:ET) Receives $24.17 Average Price Target from Brokerages

Shares of Energy Transfer LP (NYSE:ET) have earned an average rating of “Buy” from the fifteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $24.1667.

Several research analysts have weighed in on the stock. Barclays reiterated an “overweight” rating and issued a $24.00 price target (up from $23.00) on shares of Energy Transfer in a research report on Wednesday, August 5th. Weiss Ratings upgraded Energy Transfer from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday, September 8th. TD Cowen reaffirmed a “buy” rating and issued a $25.00 target price (up from $24.00) on shares of Energy Transfer in a report on Monday, August 10th. JPMorgan Chase & Co. lifted their target price on Energy Transfer from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, September 4th. Finally, Wall Street Zen raised Energy Transfer from a “hold” rating to a “buy” rating in a report on Saturday, August 8th.

Insider Activity at Energy Transfer

In other news, Director Kelcy Warren bought 647,968 shares of Energy Transfer stock in a transaction that occurred on Wednesday, August 19th. The stock was bought at an average cost of $21.26 per share, with a total value of $13,775,799.68. Following the acquisition, the director owned 147,901,879 shares of the company’s stock, valued at $3,144,393,947.54. The trade was a 0.44% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Perry bought 12,359 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were purchased at an average price of $20.23 per share, for a total transaction of $250,022.57. Following the purchase, the director owned 208,046 shares in the company, valued at $4,208,770.58. This trade represents a 6.32% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 1,012,359 shares of company stock valued at $21,513,543 over the last three months. 3.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Bullseye Investment Management LLC bought a new stake in Energy Transfer during the second quarter valued at about $42,000. Talon Private Wealth LLC boosted its stake in shares of Energy Transfer by 1.7% in the second quarter. Talon Private Wealth LLC now owns 53,343 shares of the pipeline company’s stock worth $1,020,000 after acquiring an additional 888 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of Energy Transfer by 6.1% during the second quarter. Sequoia Financial Advisors LLC now owns 78,368 shares of the pipeline company’s stock worth $1,498,000 after purchasing an additional 4,491 shares in the last quarter. Tidal Investments LLC grew its position in shares of Energy Transfer by 56.7% during the second quarter. Tidal Investments LLC now owns 1,611,509 shares of the pipeline company’s stock worth $30,812,000 after purchasing an additional 583,196 shares in the last quarter. Finally, M.E. Allison & CO. Inc. raised its stake in Energy Transfer by 3.4% during the 2nd quarter. M.E. Allison & CO. Inc. now owns 25,535 shares of the pipeline company’s stock valued at $488,000 after purchasing an additional 843 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

NYSE ET opened at $21.46 on Thursday. The company has a 50-day moving average price of $20.75 and a 200-day moving average price of $19.76. Energy Transfer has a 52 week low of $16.18 and a 52 week high of $21.84. The company has a quick ratio of 0.94, a current ratio of 1.16 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $73.91 billion, a P/E ratio of 14.60, a PEG ratio of 0.71 and a beta of 0.57.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.21. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The company had revenue of $34.33 billion for the quarter, compared to the consensus estimate of $27.71 billion. During the same quarter last year, the firm posted $0.32 earnings per share. The firm’s revenue was up 78.4% compared to the same quarter last year. Equities research analysts anticipate that Energy Transfer will post 1.75 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend was Friday, August 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s payout ratio is presently 92.52%.

About Energy Transfer

Energy Transfer LP (NYSE: ET) is a diversified midstream energy partnership that owns and operates infrastructure used to transport, store, process and market energy commodities. Its assets support the movement of natural gas, crude oil, natural gas liquids (NGLs), refined products and other hydrocarbon-based materials.

The company’s operations include natural gas gathering and processing, interstate and intrastate pipeline transportation, NGL fractionation and storage, crude oil and refined products transportation, and terminal services.