FY2024 EPS Estimates for Energy Transfer Boosted by Analyst

Energy Transfer LP (NYSE:ET) – Investment analysts at US Capital Advisors lifted their FY2024 earnings per share estimates for Energy Transfer in a research report issued on Monday, February 3rd. US Capital Advisors analyst J. Carreker now expects that the pipeline company will post earnings per share of $1.32 for the year, up from their prior estimate of $1.31. The consensus estimate for Energy Transfer’s current full-year earnings is $1.36 per share.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same period last year, the company earned $0.31 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year.

Several other research analysts have also recently weighed in on the company. Royal Bank of Canada raised their target price on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Bank of America started coverage on Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. The Goldman Sachs Group raised their target price on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Wells Fargo & Company raised their target price on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, Barclays increased their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.82.

Energy Transfer Trading Up 0.0 %

Shares of ET stock opened at $20.77 on Wednesday. The stock has a 50-day simple moving average of $19.63 and a 200 day simple moving average of $17.54. Energy Transfer has a fifty-two week low of $13.79 and a fifty-two week high of $21.45. The stock has a market capitalization of $71.10 billion, a P/E ratio of 15.27, a P/E/G ratio of 0.54 and a beta of 1.69. 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 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be paid a dividend of $0.325 per share. The ex-dividend date is Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.26%. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

Institutional Investors Weigh In On Energy Transfer

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC bought a new position in shares of Energy Transfer in the 4th quarter valued at approximately $29,000. Princeton Global Asset Management LLC grew its holdings in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after buying an additional 650 shares during the last quarter. Assetmark Inc. grew its holdings in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after buying an additional 1,668 shares during the last quarter. Financial Life Planners acquired a new stake in shares of Energy Transfer during the 4th quarter worth approximately $37,000. Finally, Citizens National Bank Trust Department acquired a new stake in shares of Energy Transfer during the 4th quarter worth approximately $39,000. 38.22% 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 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.