US Capital Advisors Equities Analysts Lower Earnings Estimates for Energy Transfer LP (NYSE:ET)

Energy Transfer LP (NYSE:ET) – Investment analysts at US Capital Advisors lowered their Q1 2024 EPS estimates for shares of Energy Transfer in a research note issued on Monday, April 29th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will earn $0.34 per share for the quarter, down from their prior forecast of $0.35. The consensus estimate for Energy Transfer’s current full-year earnings is $1.56 per share. US Capital Advisors also issued estimates for Energy Transfer’s Q3 2024 earnings at $0.32 EPS.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. The firm had revenue of $20.53 billion for the quarter, compared to the consensus estimate of $21.46 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The business’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 earnings per share.

Several other research firms have also weighed in on ET. Mizuho reiterated a “buy” rating and set a $19.00 target price (up previously from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. UBS Group cut their target price on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Finally, Citigroup increased their price target on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Energy Transfer Stock Down 1.6 %

NYSE ET opened at $15.48 on Thursday. Energy Transfer has a 1-year low of $12.18 and a 1-year high of $16.07. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37. The stock’s 50 day moving average is $15.42 and its two-hundred day moving average is $14.37. The company has a market capitalization of $52.16 billion, a price-to-earnings ratio of 14.20 and a beta of 1.63.

Institutional Trading of Energy Transfer

Hedge funds have recently modified their holdings of the company. First Reserve GP XIII Ltd bought a new position in Energy Transfer during the fourth quarter worth about $322,097,000. Alps Advisors Inc. lifted its holdings in shares of Energy Transfer by 14.5% during the 3rd quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock valued at $1,033,541,000 after purchasing an additional 9,341,798 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Energy Transfer by 38.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock valued at $353,576,000 after purchasing an additional 7,097,074 shares during the period. Clearbridge Investments LLC increased its stake in Energy Transfer by 18.5% during the 4th quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock worth $350,845,000 after purchasing an additional 3,976,676 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Energy Transfer by 1,447.6% during the 4th quarter. International Assets Investment Management LLC now owns 3,756,955 shares of the pipeline company’s stock worth $518,460,000 after buying an additional 3,514,195 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be issued a $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 8.19%. The ex-dividend date of this dividend is Friday, May 10th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 115.60%.

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.