Energy Transfer (ET) – Analysts’ Weekly Ratings Updates

Energy Transfer (NYSE: ET) recently received a number of ratings updates from brokerages and research firms:

• 12/20/2024 – Energy Transfer had its price target raised by analysts at Barclays PLC from $18.00 to $22.00. They now have an “overweight” rating on the stock.
• 12/19/2024 – Energy Transfer had its price target raised by analysts at The Goldman Sachs Group, Inc. from $17.00 to $20.00. They now have a “neutral” rating on the stock.
• 12/18/2024 – Energy Transfer had its price target raised by analysts at Wells Fargo & Company from $20.00 to $21.00. They now have an “overweight” rating on the stock.
• 12/9/2024 – Energy Transfer had its price target raised by analysts at Royal Bank of Canada from $20.00 to $23.00. They now have an “outperform” rating on the stock.

Energy Transfer Stock Up 2.9 %

Shares of ET traded up $0.56 during mid-day trading on Wednesday, hitting $19.60. The company’s stock had a trading volume of 6,987,384 shares, compared to its average volume of 13,726,538. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The company’s 50-day moving average is $17.92 and its 200-day moving average is $16.71. Energy Transfer LP has a 52-week low of $13.60 and a 52-week high of $20.02. The firm has a market capitalization of $67.11 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 0.63 and a beta of 1.70.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. The business had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.31 earnings per share. On average, equities research analysts forecast that Energy Transfer LP will post 1.32 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.58%. Energy Transfer’s payout ratio is currently 94.85%.

Institutional Trading of Energy Transfer

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC lifted its holdings in shares of 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 period. Assetmark Inc. grew its stake in shares of Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares during the period. HWG Holdings LP purchased a new position in shares of Energy Transfer during the 2nd quarter valued at approximately $33,000. Continuum Advisory LLC boosted its holdings in Energy Transfer by 44.8% during the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after buying an additional 729 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC grew its position in Energy Transfer by 43.6% during 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. Institutional investors and hedge funds own 38.22% of the company’s stock.

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.