Shares of Energy Transfer LP (NYSE:ET – Get Rating) have been assigned a consensus recommendation of “Buy” from the seven ratings firms that are covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $15.50.
A number of analysts recently issued reports on ET shares. Morgan Stanley lifted their price target on shares of Energy Transfer from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 19th. Mizuho increased their target price on Energy Transfer from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, November 4th. Barclays boosted their price target on Energy Transfer from $13.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, August 16th. Finally, Royal Bank of Canada lifted their price objective on shares of Energy Transfer from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Thursday, August 18th.
Energy Transfer Stock Performance
NYSE:ET opened at $12.18 on Tuesday. Energy Transfer has a 1-year low of $7.96 and a 1-year high of $12.95. The firm has a 50 day simple moving average of $12.00 and a 200-day simple moving average of $11.42. The firm has a market cap of $37.62 billion, a PE ratio of 9.09 and a beta of 1.78. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.08 and a quick ratio of 0.86.
Energy Transfer (NYSE:ET – Get Rating) last released its quarterly earnings data on Tuesday, November 1st. The pipeline company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. The company had revenue of $22.94 billion during the quarter, compared to analyst estimates of $27.57 billion. Energy Transfer had a net margin of 5.02% and a return on equity of 13.01%. On average, equities analysts expect that Energy Transfer will post 1.44 EPS for the current year.
Energy Transfer Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, November 21st. Shareholders of record on Friday, November 4th were paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 8.70%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, November 3rd. Energy Transfer’s payout ratio is presently 79.11%.
Insider Buying and Selling at Energy Transfer
In other Energy Transfer news, Chairman Kelcy L. Warren bought 155,000 shares of the stock in a transaction that occurred on Monday, November 7th. The shares were purchased at an average cost of $12.38 per share, for a total transaction of $1,918,900.00. Following the transaction, the chairman now directly owns 52,733,477 shares in the company, valued at $652,840,445.26. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Kelcy L. Warren acquired 2,428,747 shares of Energy Transfer stock in a transaction dated Monday, September 12th. The stock was acquired at an average cost of $12.04 per share, with a total value of $29,242,113.88. Following the purchase, the chairman now directly owns 52,007,224 shares in the company, valued at approximately $626,166,976.96. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Kelcy L. Warren bought 155,000 shares of Energy Transfer stock in a transaction dated Monday, November 7th. The shares were bought at an average cost of $12.38 per share, with a total value of $1,918,900.00. Following the completion of the acquisition, the chairman now owns 52,733,477 shares of the company’s stock, valued at $652,840,445.26. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 3,083,747 shares of company stock worth $37,341,014. 3.28% of the stock is owned by company insiders.
Institutional Trading of Energy Transfer
A number of hedge funds have recently bought and sold shares of the company. Janney Montgomery Scott LLC grew its position in Energy Transfer by 8.8% during the 2nd quarter. Janney Montgomery Scott LLC now owns 340,257 shares of the pipeline company’s stock worth $3,518,000 after purchasing an additional 27,377 shares in the last quarter. Private Advisor Group LLC raised its position in Energy Transfer by 44.4% during the second quarter. Private Advisor Group LLC now owns 345,892 shares of the pipeline company’s stock valued at $3,452,000 after buying an additional 106,288 shares during the period. Truist Financial Corp lifted its stake in Energy Transfer by 2.1% in the 2nd quarter. Truist Financial Corp now owns 816,120 shares of the pipeline company’s stock worth $8,145,000 after acquiring an additional 16,939 shares in the last quarter. Visionary Wealth Advisors boosted its position in Energy Transfer by 35.8% during the 2nd quarter. Visionary Wealth Advisors now owns 25,475 shares of the pipeline company’s stock worth $254,000 after acquiring an additional 6,715 shares during the period. Finally, Wealth Alliance grew its stake in Energy Transfer by 58.7% during the 1st quarter. Wealth Alliance now owns 50,825 shares of the pipeline company’s stock valued at $569,000 after acquiring an additional 18,798 shares in the last quarter. 38.80% of the stock is owned by hedge funds and other institutional investors.
About Energy Transfer
Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,830 miles of interstate natural gas pipeline.
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