Q1 2024 EPS Estimates for Energy Transfer LP (NYSE:ET) Lowered by US Capital Advisors

Energy Transfer LP (NYSE:ET) – Stock analysts at US Capital Advisors dropped their Q1 2024 earnings estimates for Energy Transfer in a note issued to investors on Monday, April 29th. US Capital Advisors analyst J. Carreker now expects that the pipeline company will post earnings of $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 announced its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The company had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $21.46 billion. During the same period in the prior year, the company posted $0.34 EPS. Energy Transfer’s revenue was up .2% compared to the same quarter last year.

Other analysts also recently issued research reports about the company. Mizuho reiterated a “buy” rating and set a $19.00 price target (up previously from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. UBS Group dropped their price target on 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 objective on Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Energy Transfer Stock Up 0.8 %

ET stock opened at $15.90 on Thursday. Energy Transfer has a twelve month low of $12.18 and a twelve month high of $16.07. The firm has a market capitalization of $53.57 billion, a PE ratio of 14.58 and a beta of 1.63. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 1.37. The stock has a 50-day simple moving average of $15.44 and a two-hundred day simple moving average of $14.38.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be given a dividend of $0.317 per share. The ex-dividend date of this dividend is Friday, May 10th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a dividend yield of 7.97%. Energy Transfer’s payout ratio is currently 115.60%.

Institutional Investors Weigh In On Energy Transfer

Several hedge funds have recently bought and sold shares of the business. Rehmann Capital Advisory Group raised its position in shares of Energy Transfer by 2.0% in the 1st quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock worth $505,000 after purchasing an additional 633 shares during the last quarter. FinTrust Capital Advisors LLC raised its holdings in Energy Transfer by 3.6% in the first quarter. FinTrust Capital Advisors LLC now owns 20,201 shares of the pipeline company’s stock worth $318,000 after buying an additional 700 shares during the last quarter. Essex Financial Services Inc. raised its holdings in Energy Transfer by 2.2% in the 1st quarter. Essex Financial Services Inc. now owns 33,569 shares of the pipeline company’s stock worth $528,000 after acquiring an additional 708 shares during the last quarter. Veracity Capital LLC boosted its stake in Energy Transfer by 2.2% during the 1st quarter. Veracity Capital LLC now owns 32,916 shares of the pipeline company’s stock valued at $518,000 after purchasing an additional 713 shares during the last quarter. Finally, Activest Wealth Management boosted its stake in Energy Transfer by 33.9% during the 4th quarter. Activest Wealth Management now owns 2,909 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 736 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

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.