Energy Transfer (NYSE:ET) Shares Up 1.2% After Dividend Announcement

Energy Transfer LP (NYSE:ET) was up 1.2% during mid-day trading on Tuesday following a dividend announcement from the company. The company traded as high as $20.11 and last traded at $20.05. Approximately 5,262,764 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 17,081,656 shares. The stock had previously closed at $19.81.

The newly announced dividend which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be issued a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 6.38%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, February 7th. Energy Transfer’s payout ratio is presently 94.85%.

Analyst Ratings Changes

A number of analysts have recently issued reports on ET shares. Wells Fargo & Company raised their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Royal Bank of Canada lifted their target price on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Bank of America assumed coverage on Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. The Goldman Sachs Group boosted their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Finally, Barclays increased their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $20.82.

Energy Transfer Stock Performance

The stock has a market capitalization of $69.72 billion, a PE ratio of 14.97, a P/E/G ratio of 0.55 and a beta of 1.70. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The firm’s 50 day moving average is $19.43 and its two-hundred day moving average is $17.39.

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, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same quarter in the prior year, the company earned $0.31 earnings per share. The company’s revenue was up .2% on a year-over-year basis. As a group, research analysts predict that Energy Transfer LP will post 1.37 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC raised its holdings in Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 650 shares in the last quarter. Assetmark Inc. raised its stake in Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 1,668 shares in the last quarter. GAMMA Investing LLC purchased a new stake in Energy Transfer in the fourth quarter valued at $29,000. HWG Holdings LP acquired a new position in Energy Transfer in the second quarter valued at $33,000. Finally, Financial Life Planners acquired a new stake in shares of Energy Transfer during the fourth quarter worth about $37,000. Institutional investors and hedge funds 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.