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

Energy Transfer LP (NYSE:ET - Free Report) - Research analysts at US Capital Advisors cut their Q3 2024 earnings per share (EPS) estimates for Energy Transfer in a research note issued on Wednesday, August 21st. US Capital Advisors analyst J. Carreker now expects that the pipeline company will post earnings of $0.29 per share for the quarter, down from their previous forecast of $0.34. The consensus estimate for Energy Transfer's current full-year earnings is $1.49 per share. US Capital Advisors also issued estimates for Energy Transfer's Q4 2024 earnings at $0.33 EPS, FY2024 earnings at $1.29 EPS, Q1 2025 earnings at $0.35 EPS, Q2 2025 earnings at $0.28 EPS, Q3 2025 earnings at $0.30 EPS, Q4 2025 earnings at $0.36 EPS, FY2025 earnings at $1.29 EPS and FY2026 earnings at $1.36 EPS.

Energy Transfer (NYSE:ET - Get Free Report) last released its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.01). Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The company had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. During the same period in the previous year, the firm posted $0.25 EPS. The company's revenue for the quarter was up 13.1% on a year-over-year basis.

A number of other analysts also recently commented on the company. UBS Group boosted their target price on Energy Transfer from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Wednesday, May 15th. Morgan Stanley boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an "overweight" rating in a research report on Monday, June 10th. JPMorgan Chase & Co. boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an "overweight" rating in a research report on Thursday, June 20th. Stifel Nicolaus boosted their target price on Energy Transfer from $18.00 to $19.00 and gave the stock a "buy" rating in a research report on Thursday, May 9th. Finally, Mizuho boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, June 18th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.29.

Energy Transfer Price Performance

Shares of Energy Transfer stock traded down $0.03 during trading on Monday, reaching $16.12. The company's stock had a trading volume of 12,738,483 shares, compared to its average volume of 13,547,846. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37. Energy Transfer has a 12-month low of $12.90 and a 12-month high of $16.50. The company has a market capitalization of $54.32 billion, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 0.42 and a beta of 1.66. The business has a 50 day moving average price of $16.08 and a 200-day moving average price of $15.64.

Institutional Investors Weigh In On Energy Transfer

Several institutional investors and hedge funds have recently modified their holdings of ET. Northwest Financial Advisors purchased a new position in Energy Transfer in the fourth quarter valued at about $25,000. LRI Investments LLC purchased a new position in Energy Transfer in the first quarter valued at about $29,000. Atlantic Edge Private Wealth Management LLC purchased a new position in Energy Transfer in the fourth quarter valued at about $33,000. HWG Holdings LP purchased a new position in Energy Transfer in the second quarter valued at about $33,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in Energy Transfer in the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 38.22% of the company's stock.

Insiders Place Their Bets

In other news, EVP Gregory G. Mcilwain purchased 20,000 shares of the company's stock in a transaction on Friday, August 23rd. The stock was bought at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the purchase, the executive vice president now directly owns 591,211 shares of the company's stock, valued at approximately $9,270,188.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Gregory G. Mcilwain purchased 20,000 shares of the company's stock in a transaction on Friday, August 23rd. The stock was bought at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the purchase, the executive vice president now directly owns 591,211 shares of the company's stock, valued at approximately $9,270,188.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kelcy L. Warren bought 3,000,000 shares of the firm's stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the transaction, the director now directly owns 123,385,650 shares of the company's stock, valued at $1,934,686,992. The disclosure for this purchase can be found here. Insiders bought 3,040,000 shares of company stock worth $47,667,200 over the last three months. 3.28% of the stock is owned by insiders.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were paid a dividend of $0.32 per share. The ex-dividend date was Friday, August 9th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a yield of 7.94%. Energy Transfer's dividend payout ratio is currently 117.43%.

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.