FY2024 EPS Estimates for Energy Transfer Boosted by Analyst

Energy Transfer LP (NYSE:ET) – Equities research analysts at US Capital Advisors increased their FY2024 EPS estimates for shares of Energy Transfer in a research report issued to clients and investors on Monday, February 3rd. US Capital Advisors analyst J. Carreker now expects that the pipeline company will post earnings of $1.32 per share for the year, up from their previous 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 posted its quarterly earnings data 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 net margin of 5.90% and a return on equity of 12.38%. The company had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same quarter in the prior year, the company posted $0.31 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year.

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

Energy Transfer Trading Up 0.0 %

NYSE ET opened at $20.77 on Wednesday. Energy Transfer has a 12 month low of $13.79 and a 12 month high of $21.45. The company has a 50-day moving average of $19.63 and a 200-day moving average of $17.54. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The company has a market cap 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.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 6.26%. The ex-dividend date of this dividend is Friday, February 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 94.85%.

Hedge Funds Weigh In On Energy Transfer

Several institutional investors and hedge funds have recently made changes to their positions in the business. Stonegate Investment Group LLC boosted its stake in shares of Energy Transfer by 1.4% during the 4th quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock valued at $672,000 after buying an additional 482 shares during the last quarter. Private Client Services LLC raised its position in shares of Energy Transfer by 3.1% during the 4th quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock valued at $331,000 after acquiring an additional 511 shares in the last quarter. Wealthspire Advisors LLC raised its position in shares of Energy Transfer by 0.4% during the 4th quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock valued at $2,551,000 after acquiring an additional 535 shares in the last quarter. Daymark Wealth Partners LLC raised its position in shares of Energy Transfer by 0.3% during the 4th quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock valued at $3,148,000 after acquiring an additional 547 shares in the last quarter. Finally, Platform Technology Partners increased its position in Energy Transfer by 0.8% in the fourth quarter. Platform Technology Partners now owns 67,299 shares of the pipeline company’s stock worth $1,318,000 after buying an additional 553 shares during the period. 38.22% of the stock is currently 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.