Energy Transfer (TXSE:ET) Stock Gets Price Target Trim from Scotiabank

Energy Transfer (TXSE:ET) had its price target lowered by Scotiabank from $24.00 to $23.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a sector outperform rating on the pipeline company’s stock.

Other equities research analysts have also issued reports about the stock. TD Cowen reaffirmed a “buy” rating and issued a $25.00 price objective (up from $24.00) on shares of Energy Transfer in a research note on Monday, August 10th. Morgan Stanley lifted their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 18th. Barclays restated an “overweight” rating and issued a $24.00 target price (up from $23.00) on shares of Energy Transfer in a report on Wednesday, August 5th. Truist Financial upped their price target on shares of Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Finally, Zacks Research downgraded Energy Transfer from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus target price of $24.73.

Energy Transfer Price Performance

Energy Transfer stock opened at $19.42 on Tuesday. The stock’s 50 day moving average is $20.43 and its 200 day moving average is $19.73. Energy Transfer has a one year low of $16.18 and a one year high of $21.84. The firm has a market cap of $66.87 billion, a P/E ratio of 13.21, a P/E/G ratio of 0.73 and a beta of 0.62. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.16 and a quick ratio of 0.94.

Energy Transfer (TXSE:ET) last released its earnings results on Tuesday, November 3rd. The pipeline company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The firm had revenue of $37.10 billion for the quarter, compared to analyst estimates of $30.98 billion. During the same period in the prior year, the company posted $0.28 EPS. As a group, research analysts expect that Energy Transfer will post 1.73 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Friday, November 6th will be issued a dividend of $0.3425 per share. This represents a $1.37 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date is Friday, November 6th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio (DPR) is currently 90.13%.

Insider Activity at Energy Transfer

In related news, Director Kelcy Warren acquired 647,968 shares of the stock in a transaction dated Wednesday, August 19th. The stock was bought at an average price of $21.26 per share, for a total transaction of $13,775,799.68. Following the purchase, the director directly owned 147,901,879 shares of the company’s stock, valued at $3,144,393,947.54. The trade was a 0.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ET. Ingalls & Snyder LLC increased its stake in Energy Transfer by 3.9% in the third quarter. Ingalls & Snyder LLC now owns 121,373 shares of the pipeline company’s stock valued at $2,400,000 after purchasing an additional 4,500 shares in the last quarter. Benjamin Edwards Inc. boosted its position in shares of Energy Transfer by 1.0% during the 3rd quarter. Benjamin Edwards Inc. now owns 52,201 shares of the pipeline company’s stock worth $1,032,000 after purchasing an additional 542 shares in the last quarter. DiPaolo Financial Group Inc. bought a new position in shares of Energy Transfer during the 3rd quarter worth about $49,000. Texas Yale Capital Corp. grew its stake in shares of Energy Transfer by 1.0% in the 3rd quarter. Texas Yale Capital Corp. now owns 1,332,133 shares of the pipeline company’s stock valued at $26,336,000 after buying an additional 13,230 shares during the period. Finally, Cornerstone Select Advisors LLC grew its stake in shares of Energy Transfer by 12.7% in the 3rd quarter. Cornerstone Select Advisors LLC now owns 19,534 shares of the pipeline company’s stock valued at $386,000 after buying an additional 2,196 shares during the period. 38.22% of the stock is owned by institutional investors.

About Energy Transfer

Energy Transfer LP is a diversified energy infrastructure company headquartered in Dallas, Texas. The partnership owns and operates a broad network of pipelines, processing facilities, storage assets and terminals that support the movement of natural gas, natural gas liquids, crude oil and refined products across the United States. The company’s operations include gathering and processing natural gas, transporting and storing natural gas and NGLs, fractionating NGLs into component products, and transporting crude oil and refined products.