US Capital Advisors Comments on Energy Transfer LP’s Q2 2024 Earnings (NYSE:ET)

Energy Transfer LP (NYSE:ET) – Stock analysts at US Capital Advisors decreased their Q2 2024 earnings per share (EPS) estimates for shares of Energy Transfer in a note issued to investors on Tuesday, May 21st. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will post earnings per share of $0.26 for the quarter, down from their prior forecast of $0.28. The consensus estimate for Energy Transfer’s current full-year earnings is $1.50 per share. US Capital Advisors also issued estimates for Energy Transfer’s Q3 2024 earnings at $0.30 EPS, Q4 2024 earnings at $0.34 EPS, FY2024 earnings at $1.22 EPS, Q1 2025 earnings at $0.36 EPS, Q2 2025 earnings at $0.31 EPS, Q3 2025 earnings at $0.33 EPS, Q4 2025 earnings at $0.36 EPS, FY2025 earnings at $1.36 EPS and FY2026 earnings at $1.43 EPS.

Other analysts have also recently issued reports about the company. Stifel Nicolaus increased their price target on Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Mizuho reissued a “buy” rating and issued a $19.00 price objective (up from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. Citigroup lifted their target price on Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Finally, UBS Group increased their price target on Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.43.

Energy Transfer Trading Down 2.0 %

NYSE ET opened at $15.41 on Wednesday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. Energy Transfer has a one year low of $12.31 and a one year high of $16.40. The company has a 50-day simple moving average of $15.75 and a 200-day simple moving average of $14.62. The firm has a market capitalization of $51.93 billion, a PE ratio of 14.14 and a beta of 1.63.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The firm had revenue of $21.63 billion for the quarter, compared to the consensus estimate of $20.91 billion. During the same quarter last year, the business earned $0.32 earnings per share. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were issued a $0.317 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, May 10th. This represents a $1.27 annualized dividend and a dividend yield of 8.23%. Energy Transfer’s dividend payout ratio is 116.51%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. First Reserve GP XIII Ltd purchased a new position in Energy Transfer during the 4th quarter valued at about $322,097,000. Alps Advisors Inc. grew its position in Energy Transfer by 14.5% during the third quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock valued at $1,033,541,000 after purchasing an additional 9,341,798 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Energy Transfer by 38.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock valued at $353,576,000 after buying an additional 7,097,074 shares during the period. Clearbridge Investments LLC increased its stake in Energy Transfer by 18.5% in the 4th quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock valued at $350,845,000 after buying an additional 3,976,676 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in shares of Energy Transfer by 1,447.6% during the 4th quarter. International Assets Investment Management LLC now owns 3,756,955 shares of the pipeline company’s stock valued at $518,460,000 after buying an additional 3,514,195 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

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.