Energy Transfer LP (NYSE:ET) Forecasted to Earn Q1 2024 Earnings of $0.35 Per Share

Energy Transfer LP (NYSE:ETFree Report) – US Capital Advisors lifted their Q1 2024 earnings per share estimates for Energy Transfer in a report released on Wednesday, March 20th. US Capital Advisors analyst J. Carreker now expects that the pipeline company will post earnings of $0.35 per share for the quarter, up from their previous estimate of $0.34. The consensus estimate for Energy Transfer’s current full-year earnings is $1.44 per share. US Capital Advisors also issued estimates for Energy Transfer’s Q3 2024 earnings at $0.34 EPS, Q1 2025 earnings at $0.40 EPS, Q2 2025 earnings at $0.34 EPS, Q3 2025 earnings at $0.36 EPS and Q4 2025 earnings at $0.39 EPS.

Energy Transfer (NYSE:ETGet Free Report) last issued its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.08. The company had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business earned $0.34 EPS.

Several other equities analysts have also commented on the company. Citigroup upped their price target on Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. UBS Group reduced their price target on Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $17.57.

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Energy Transfer Stock Performance

Shares of Energy Transfer stock opened at $15.56 on Thursday. Energy Transfer has a 52 week low of $11.45 and a 52 week high of $15.72. The business’s fifty day simple moving average is $14.55 and its 200-day simple moving average is $13.97. The firm has a market cap of $52.41 billion, a PE ratio of 14.28 and a beta of 1.64. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 1.37.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Wednesday, February 7th were paid a $0.315 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.31. This represents a $1.26 annualized dividend and a dividend yield of 8.10%. The ex-dividend date of this dividend was Tuesday, February 6th. Energy Transfer’s dividend payout ratio (DPR) is 115.60%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Addis & Hill Inc acquired a new stake in shares of Energy Transfer in the 4th quarter valued at approximately $1,003,000. Ables Iannone Moore & Associates Inc. acquired a new position in Energy Transfer during the fourth quarter worth $34,000. ICA Group Wealth Management LLC purchased a new position in Energy Transfer during the fourth quarter worth $185,000. Creekmur Asset Management LLC purchased a new position in Energy Transfer during the fourth quarter worth $98,000. Finally, ARK & TLK Investments LLC purchased a new position in Energy Transfer during the fourth quarter worth $356,000. 33.79% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Company Profile

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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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Earnings History and Estimates for Energy Transfer (NYSE:ET)

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