FY2024 EPS Estimates for Energy Transfer Raised by Analyst

by · The Markets Daily

Energy Transfer LP (NYSE:ET – Free Report) – Equities researchers at US Capital Advisors boosted their FY2024 earnings per share (EPS) estimates for Energy Transfer in a research note issued on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will post earnings of $1.31 per share for the year, up from their prior estimate of $1.29. The consensus estimate for Energy Transfer’s current full-year earnings is $1.34 per share.

Energy Transfer (NYSE:ET – Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis.

A number of other equities analysts also recently weighed in on ET. Royal Bank of Canada boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Bank of America started coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. Finally, UBS Group upped their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $20.00.

View Our Latest Report on Energy Transfer

Energy Transfer Price Performance

Energy Transfer stock opened at $19.40 on Thursday. Energy Transfer has a 12 month low of $13.11 and a 12 month high of $19.71. 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 has a market capitalization of $66.42 billion, a PE ratio of 14.26, a P/E/G ratio of 0.61 and a beta of 1.66. The stock has a 50-day moving average price of $16.85 and a two-hundred day moving average price of $16.25.

Institutional Investors Weigh In On Energy Transfer

Several hedge funds have recently modified their holdings of ET. Princeton Global Asset Management LLC boosted its holdings in Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Energy Transfer by 2,138.5% in the third 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 period. LRI Investments LLC acquired a new stake in Energy Transfer in the first quarter valued at approximately $29,000. HWG Holdings LP acquired a new position in Energy Transfer during the 2nd quarter worth about $33,000. Finally, Continuum Advisory LLC raised its position in shares of Energy Transfer by 44.8% in the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 729 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were given a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.65%. Energy Transfer’s payout ratio is currently 94.85%.

Energy Transfer Company Profile

(Get Free Report)

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.

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