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

Shares of Energy Transfer LP (NYSE:ET) have earned a consensus rating of “Moderate Buy” from the eleven research 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 brokerages that have issued ratings on the stock in the last year is $20.82.

ET has been the subject of a number of recent research reports. Royal Bank of Canada increased their target price on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Barclays increased their price target on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Wells Fargo & Company increased their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group increased their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Finally, Bank of America started coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ET. FMR LLC raised 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 buying an additional 10,195,768 shares during the period. International Assets Investment Management LLC raised its stake in shares of Energy Transfer by 1,491.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock valued at $67,020,000 after purchasing an additional 3,913,266 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Energy Transfer by 36.7% in 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. Citigroup Inc. raised its stake in shares of Energy Transfer by 45.9% in the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock valued at $153,787,000 after purchasing an additional 3,013,973 shares during the period. Finally, Pathway Financial Advisers LLC raised its stake in shares of Energy Transfer by 1,837.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,338,885 shares of the pipeline company’s stock valued at $21,489,000 after purchasing an additional 1,269,778 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $20.94 on Friday. The business has a 50 day moving average price of $19.16 and a 200 day moving average price of $17.26. Energy Transfer has a twelve month low of $13.79 and a twelve month high of $21.45. The company has a market cap of $71.68 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 0.53 and a beta of 1.70. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 EPS. Research analysts predict that Energy Transfer will post 1.37 earnings per share for the current year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were given a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.16%. Energy Transfer’s dividend payout ratio is currently 94.85%.

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.