Energy Transfer LP (NYSE:ET) Receives $20.00 Average Price Target from Analysts

Energy Transfer LP (NYSE:ET) has received a consensus rating of “Buy” from the eight brokerages that are covering the company, Marketbeat reports. Eight research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have issued a report on the stock in the last year is $20.00.

A number of research firms recently weighed in on ET. Royal Bank of Canada boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Bank of America began coverage on Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. Finally, UBS Group boosted their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th.

Energy Transfer Trading Down 0.6 %

Shares of Energy Transfer stock opened at $17.30 on Monday. Energy Transfer has a 12-month low of $13.01 and a 12-month high of $17.71. The stock has a market cap of $59.20 billion, a P/E ratio of 12.72, a P/E/G ratio of 0.53 and a beta of 1.66. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38. The business’s 50 day moving average is $16.30 and its 200-day moving average is $16.05.

Energy Transfer (NYSE:ET) last posted its 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 business had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a return on equity of 12.64% and a net margin of 5.90%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.31 EPS. Equities research analysts predict that Energy Transfer will post 1.35 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 7.46%. The ex-dividend date is Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is currently 94.12%.

Insider Transactions at Energy Transfer

In related news, EVP Gregory G. Mcilwain bought 20,000 shares of Energy Transfer stock in a transaction dated Friday, August 23rd. The shares were bought at an average cost of $15.68 per share, with a total value of $313,600.00. Following the acquisition, the executive vice president now owns 591,211 shares in the company, valued at $9,270,188.48. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.28% of the stock is currently owned by insiders.

Institutional Trading of Energy Transfer

Institutional investors and hedge funds have recently modified their holdings of the business. Princeton Global Asset Management LLC lifted its position in shares of Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares during the last quarter. Assetmark Inc. raised its position in Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares during the last quarter. LRI Investments LLC bought a new position in Energy Transfer in the first quarter valued at about $29,000. HWG Holdings LP acquired a new stake in shares of Energy Transfer in the second quarter valued at about $33,000. Finally, Sugarloaf Wealth Management LLC increased its stake in shares of Energy Transfer by 43.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after buying an additional 750 shares during the period. 38.22% of the stock is currently owned by 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.