Energy Transfer’s (ET) Buy Rating Reiterated at UBS Group

UBS Group reissued their buy rating on shares of Energy Transfer (NYSE:ET) in a research note published on Wednesday,Benzinga reports. They currently have a $22.00 price target on the pipeline company’s stock.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley dropped their price objective on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, August 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a report on Wednesday, October 8th. TD Cowen initiated coverage on Energy Transfer in a report on Monday, July 7th. They issued a “buy” rating and a $22.00 target price for the company. Scotiabank initiated coverage on Energy Transfer in a report on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 target price for the company. Finally, Cowen initiated coverage on Energy Transfer in a report on Monday, July 7th. They issued a “buy” rating for the company. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.67.

Energy Transfer Price Performance

ET opened at $16.44 on Wednesday. The business has a fifty day moving average of $17.23 and a 200 day moving average of $17.39. Energy Transfer has a 52-week low of $14.60 and a 52-week high of $21.45. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. The stock has a market cap of $56.43 billion, a P/E ratio of 12.74, a PEG ratio of 0.98 and a beta of 0.78.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The company had revenue of $19.24 billion during the quarter, compared to analysts’ expectations of $24.07 billion. During the same quarter in the previous year, the business earned $0.35 EPS. Energy Transfer’s revenue was down 7.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Energy Transfer will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were paid a dividend of $0.33 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, August 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 8.0%. Energy Transfer’s dividend payout ratio (DPR) is currently 102.33%.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren bought 1,350,000 shares of Energy Transfer stock in a transaction that occurred on Wednesday, August 20th. The shares were bought at an average cost of $17.36 per share, with a total value of $23,436,000.00. Following the transaction, the director directly owned 69,178,477 shares of the company’s stock, valued at approximately $1,200,938,360.72. This represents a 1.99% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Chelsea Counsel Co. increased its position in Energy Transfer by 370.3% during the 2nd quarter. Chelsea Counsel Co. now owns 94,050 shares of the pipeline company’s stock valued at $1,705,000 after buying an additional 74,050 shares in the last quarter. Prevail Innovative Wealth Advisors LLC increased its position in Energy Transfer by 316.9% during the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 117,312 shares of the pipeline company’s stock valued at $2,181,000 after buying an additional 89,173 shares in the last quarter. Highland Capital Management LLC acquired a new position in Energy Transfer during the 2nd quarter valued at about $930,000. Northern Trust Corp increased its position in Energy Transfer by 223.5% during the 1st quarter. Northern Trust Corp now owns 1,069,534 shares of the pipeline company’s stock valued at $19,883,000 after buying an additional 738,885 shares in the last quarter. Finally, Appaloosa LP increased its position in Energy Transfer by 0.9% during the 1st quarter. Appaloosa LP now owns 4,957,235 shares of the pipeline company’s stock valued at $92,155,000 after buying an additional 42,500 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Company Profile

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.