In yesterday’s Wall Street session, Energy Transfer LP (NYSE:ET) shares traded at $13.15, up 0.31% from the previous session.
As of this writing, 20 analysts cover Energy Transfer LP (NYSE:ET). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $22.00 and a low of $14.00, we find $17.00. Given the previous closing price of $13.11, this indicates a potential upside of 29.67 percent. ET stock price is now -3.47% away from the 50-day moving average and 1.38% away from the 200-day moving average. The market capitalization of the company currently stands at $41.36B.
There are 1 analysts who have given it a hold rating, whereas 14 have given it a buy rating. Brokers who have rated the stock have averaged $17.22 as their price target over the next twelve months.
In other news, MCCREA MARSHALL S III, Co-CEO bought 50,000 shares of the company’s stock on Sep 05. The stock was bought for $689,500 at an average price of $13.79. Upon completion of the transaction, the Co-CEO now directly owns 6,769,267 shares in the company, valued at $89.02 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 01, Co-CEO MCCREA MARSHALL S III bought 50,000 shares of the business’s stock. A total of $682,000 was incurred on buying the stock at an average price of $13.64. This leaves the insider owning 6,719,267 shares of the company worth $88.36 million. Insiders disposed of 467,626 shares of company stock worth roughly $6.15 million over the past 1 year. A total of 16.33% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ET stock. A new stake in Energy Transfer LP shares was purchased by ENCAP FLATROCK MIDSTREAM FUND IV, L.P. during the first quarter worth $275,368,000. ENCAP FLATROCK MIDSTREAM FUND III, L.P. invested $254,186,000 in shares of ET during the first quarter. In the first quarter, JUMP FINANCIAL, LLC acquired a new stake in Energy Transfer LP valued at approximately $10,841,000. PAYDEN & RYGEL acquired a new stake in ET for approximately $10,384,000. REQUISITE CAPITAL MANAGEMENT, LLC purchased a new stake in ET valued at around $6,578,000 in the second quarter. In total, there are 1,020 active investors with 30.23% ownership of the company’s stock.
During the past 12 months, Energy Transfer LP has had a low of $11.37 and a high of $14.15. As of last week, the company has a debt-to-equity ratio of 1.46, a current ratio of 0.81, and a quick ratio of 0.64. According to the stock market information, the enterprise value for the company is $89.99B, which is based on a 10.94 price-to-earnings ratio, a 1.82 price-to-earnings-growth ratio, and a beta of 1.65. The fifty day moving average price for ET is $13.63 and a two-hundred day moving average price translates $12.97 for the stock.
The latest earnings results from Energy Transfer LP (NYSE: ET) was released for Jun, 2023. According to the Oil & Gas Midstream Company, earnings per share came in at $0.25, missing analysts’ expectations of $0.33 by -0.08. This compares to $0.52 EPS in the same period last year. The net profit margin was 4.64% and return on equity was 12.64% for ET. The company reported revenue of $18.32 billion for the quarter, compared to $25.95 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -29.39 percent. For the current quarter, analysts expect ET to generate $20.27B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 11/20/2023. Investors who held shares on 10/30/2023 were paid a $0.3125 dividend. On an annualized basis, this represents a $1.25 dividend and a 9.48% percent yield. There was an ex-dividend date of 10/27/2023 for this dividend. In terms of dividend payout ratio, ET is presently at 62.23%.
Energy Transfer LP(ET) Company Profile
Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,945 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. The company owns and operates natural gas gathering and natural gas liquid (NGL) pipeline, processing plant, and treating and conditioning facilities in Texas, New Mexico, West Virginia, Pennsylvania, Ohio, Oklahoma, Arkansas, Kansas, and Louisiana; natural gas gathering, oil pipeline, and oil stabilization facilities in South Texas; and a natural gas gathering system in Ohio, as well as transport and supplies water to natural gas producer in Pennsylvania. It owns approximately 5,650 miles of NGL pipeline; NGL fractionation facilities; NGL storage facilities with working storage capacity of approximately 58 million barrels (MMBbls); and other NGL storage assets and terminal with an aggregate storage capacity of approximately 25 MMBbls. The company provides crude oil transportation, terminalling, acquisition, and marketing activities; and sells and distributes gasoline, middle distillate, and motor fuels and other petroleum product. It offers natural gas compression service; carbon dioxide and hydrogen sulfide removal service; and manages coal and natural resources properties, as well as sells standing timber, leases coal-related infrastructure facilities, collects oil and gas royalty, and generate electrical power. The company was formerly known as Energy Transfer Equity, L.P. and changed its name to Energy Transfer LP in October 2018. Energy Transfer LP was founded in 1996 and is headquartered in Dallas, Texas.
