Scotiabank Lowers Earnings Estimates for Energy Transfer

Energy Transfer LP (NYSE:ET) – Research analysts at Scotiabank lowered their FY2027 EPS estimates for Energy Transfer in a report released on Thursday, May 14th. Scotiabank analyst B. Bingham now expects that the pipeline company will post earnings of $1.50 per share for the year, down from their previous estimate of $1.59. Scotiabank has a “Sector Outperform” rating and a $24.00 price objective on the stock. The consensus estimate for Energy Transfer’s current full-year earnings is $1.42 per share.

A number of other research analysts have also recently commented on the company. Barclays reaffirmed an “overweight” rating and set a $23.00 price target (up from $22.00) on shares of Energy Transfer in a research report on Thursday. Stifel Nicolaus lifted their price objective on Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. TD Cowen reaffirmed a “buy” rating and set a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a report on Wednesday. Wells Fargo & Company increased their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, March 13th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $22.75.

Energy Transfer Price Performance

Shares of NYSE ET opened at $20.37 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50. The stock has a fifty day simple moving average of $19.17 and a two-hundred day simple moving average of $17.93. Energy Transfer has a 1-year low of $16.18 and a 1-year high of $20.67. The firm has a market cap of $70.11 billion, a price-to-earnings ratio of 16.98, a price-to-earnings-growth ratio of 1.17 and a beta of 0.57.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The company had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $25.78 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The firm’s revenue was up 32.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 earnings per share.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ET. Keybank National Association OH boosted its position in shares of Energy Transfer by 0.3% in the first quarter. Keybank National Association OH now owns 219,232 shares of the pipeline company’s stock valued at $4,231,000 after acquiring an additional 556 shares during the period. Mountain Capital Investment Advisors Inc. increased its holdings in Energy Transfer by 4.9% during the 4th quarter. Mountain Capital Investment Advisors Inc. now owns 12,007 shares of the pipeline company’s stock worth $216,000 after acquiring an additional 560 shares during the period. Marks Wealth LLC increased its holdings in Energy Transfer by 4.7% during the 4th quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company’s stock worth $207,000 after acquiring an additional 560 shares during the period. Citizens Financial Group Inc. RI lifted its stake in Energy Transfer by 2.4% in the 1st quarter. Citizens Financial Group Inc. RI now owns 23,978 shares of the pipeline company’s stock worth $463,000 after purchasing an additional 562 shares in the last quarter. Finally, Avos Capital Management LLC boosted its holdings in Energy Transfer by 0.8% in the 4th quarter. Avos Capital Management LLC now owns 76,695 shares of the pipeline company’s stock valued at $1,265,000 after purchasing an additional 583 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Friday, May 8th will be issued a dividend of $0.3375 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Friday, May 8th. This represents a $1.35 dividend on an annualized basis and a yield of 6.6%. Energy Transfer’s payout ratio is currently 112.50%.

About Energy Transfer

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.