Energy Transfer (NYSE:ET) Stock Price Up 0.1% – Here’s What Happened

Energy Transfer LP (NYSE:ET) was up 0.1% on Thursday . The company traded as high as $19.05 and last traded at $19.00. Approximately 3,539,198 shares traded hands during trading, a decline of 74% from the average daily volume of 13,673,355 shares. The stock had previously closed at $18.98.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ET. Royal Bank of Canada increased their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. UBS Group lifted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. 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.com, the company presently has an average rating of “Buy” and a consensus target price of $20.00.

Energy Transfer Price Performance

The stock has a market cap of $65.26 billion, a P/E ratio of 13.97, a PEG ratio of 0.63 and a beta of 1.70. The company has a 50 day simple moving average of $17.17 and a 200 day simple moving average of $16.37. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 EPS. Sell-side analysts forecast that Energy Transfer LP will post 1.32 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a $0.3225 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 6.77%. Energy Transfer’s dividend payout ratio is 94.85%.

Hedge Funds Weigh In On Energy Transfer

A number of institutional investors have recently added to or reduced their stakes in the company. CWM LLC lifted its position in shares of Energy Transfer by 27.6% in the second quarter. CWM LLC now owns 61,300 shares of the pipeline company’s stock valued at $994,000 after buying an additional 13,248 shares during the last quarter. Simplicity Wealth LLC lifted its holdings in Energy Transfer by 195.1% during the 2nd quarter. Simplicity Wealth LLC now owns 60,323 shares of the pipeline company’s stock valued at $978,000 after purchasing an additional 39,882 shares during the last quarter. Wesbanco Bank Inc. boosted its position in Energy Transfer by 14.1% during the second quarter. Wesbanco Bank Inc. now owns 24,521 shares of the pipeline company’s stock worth $398,000 after purchasing an additional 3,032 shares during the period. Manning & Napier Advisors LLC acquired a new position in shares of Energy Transfer in the second quarter valued at $8,759,000. Finally, Cliftonlarsonallen Wealth Advisors LLC bought a new position in shares of Energy Transfer in the second quarter valued at about $507,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

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.