Energy Transfer (NYSE:ET) Trading Up 1.7% – Still a Buy?

Energy Transfer LP (NYSE:ET) traded up 1.7% during mid-day trading on Wednesday . The stock traded as high as $19.52 and last traded at $19.52. 5,410,169 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 13,628,949 shares. The stock had previously closed at $19.20.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. UBS Group raised their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Royal Bank of Canada lifted their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Bank of America assumed coverage on Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective for the company. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, Energy Transfer has an average rating of “Buy” and a consensus target price of $20.00.

Energy Transfer Stock Up 1.1 %

The company has a market capitalization of $66.49 billion, a PE ratio of 14.28, a P/E/G ratio of 0.62 and a beta of 1.66. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The firm has a 50 day simple moving average of $16.91 and a two-hundred day simple moving average of $16.27.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. Energy Transfer’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the firm posted $0.31 EPS. Research analysts expect that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 6.64%. Energy Transfer’s dividend payout ratio is currently 94.85%.

Institutional Investors Weigh In On Energy Transfer

Institutional investors have recently added to or reduced their stakes in the business. Peapack Gladstone Financial Corp lifted its holdings in Energy Transfer by 6.8% in the third quarter. Peapack Gladstone Financial Corp now owns 15,675 shares of the pipeline company’s stock valued at $251,000 after acquiring an additional 1,000 shares during the period. Synovus Financial Corp boosted its holdings in Energy Transfer by 69.8% during the third quarter. Synovus Financial Corp now owns 84,530 shares of the pipeline company’s stock worth $1,357,000 after buying an additional 34,749 shares in the last quarter. Tidal Investments LLC grew its position in Energy Transfer by 1.2% during the third quarter. Tidal Investments LLC now owns 101,738 shares of the pipeline company’s stock worth $1,633,000 after buying an additional 1,248 shares during the period. Wilmington Savings Fund Society FSB increased its holdings in Energy Transfer by 1,265.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 231,398 shares of the pipeline company’s stock valued at $3,714,000 after buying an additional 214,446 shares in the last quarter. Finally, World Investment Advisors LLC lifted its position in shares of Energy Transfer by 4.6% during the 3rd quarter. World Investment Advisors LLC now owns 78,806 shares of the pipeline company’s stock valued at $1,265,000 after acquiring an additional 3,485 shares during the period. Hedge funds and other 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.