Energy Transfer LP (NYSEAMERICAN:ET) Stock Has Consensus Target Price of $24.60

Energy Transfer LP (NYSEAMERICAN:ET) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $24.60.

ET has been the topic of a number of recent research reports. Truist Financial lifted their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Barclays reissued an “overweight” rating and set a $24.00 target price (up from $23.00) on shares of Energy Transfer in a report on Wednesday, August 5th. JPMorgan Chase & Co. increased their target price on shares of Energy Transfer from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, September 4th. Capital One Financial assumed coverage on Energy Transfer in a research report on Tuesday, September 22nd. They issued an “overweight” rating and a $26.00 price objective for the company. Finally, TD Cowen restated a “buy” rating and issued a $25.00 target price (up from $24.00) on shares of Energy Transfer in a research note on Monday, August 10th.

Energy Transfer Price Performance

ET opened at $20.91 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.94 and a debt-to-equity ratio of 1.45. Energy Transfer has a 12 month low of $16.18 and a 12 month high of $21.84. The company has a market cap of $72.00 billion, a P/E ratio of 14.22, a P/E/G ratio of 0.72 and a beta of 0.60. The business’s 50-day moving average price is $20.76 and its 200-day moving average price is $19.65.

Energy Transfer (NYSEAMERICAN:ET) last posted its earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.21. The company had revenue of $34.33 billion during the quarter, compared to analysts’ expectations of $27.71 billion. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. Energy Transfer’s quarterly revenue was up 78.4% on a year-over-year basis. During the same period last year, the company posted $0.32 earnings per share. On average, equities analysts expect that Energy Transfer will post 1.73 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Friday, November 6th will be given a dividend of $0.3425 per share. The ex-dividend date is Friday, November 6th. This represents a $1.37 annualized dividend and a yield of 6.6%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio is 92.52%.

Insider Activity

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

Institutional Trading of Energy Transfer

Several institutional investors and hedge funds have recently added to or reduced their stakes in ET. Pathway Financial Advisers LLC increased its holdings in shares of Energy Transfer by 5.5% during the 3rd quarter. Pathway Financial Advisers LLC now owns 159,589 shares of the pipeline company’s stock valued at $3,155,000 after purchasing an additional 8,257 shares in the last quarter. Kelleher Financial Advisors boosted its holdings in shares of Energy Transfer by 98.7% in the 3rd quarter. Kelleher Financial Advisors now owns 86,845 shares of the pipeline company’s stock valued at $1,717,000 after purchasing an additional 43,149 shares during the last quarter. Compass Financial Management LLC lifted its holdings in Energy Transfer by 36.4% in the 3rd quarter. Compass Financial Management LLC now owns 26,575 shares of the pipeline company’s stock worth $525,000 after buying an additional 7,087 shares in the last quarter. GRIMES & Co WEALTH MANAGEMENT LLC lifted its holdings in Energy Transfer by 23.8% in the third quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 15,807 shares of the pipeline company’s stock worth $313,000 after acquiring an additional 3,035 shares during the last quarter. Finally, McAlvany Wealth Management LLC bought a new stake in shares of Energy Transfer during the 3rd quarter worth about $1,022,000. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Company Profile

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.