Energy Transfer (NYSE:ET) Stock Price Up 1.4% – Here’s Why

Shares of Energy Transfer LP (NYSE:ET) shot up 1.4% during mid-day trading on Wednesday . The company traded as high as $21.01 and last traded at $21.06. 3,490,723 shares changed hands during trading, a decline of 80% from the average session volume of 17,175,264 shares. The stock had previously closed at $20.77.

Analyst Ratings Changes

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

Energy Transfer Price Performance

The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $72.02 billion, a PE ratio of 15.46, a PEG ratio of 0.54 and a beta of 1.69. The stock has a 50-day moving average price of $19.66 and a 200 day moving average price of $17.57.

Energy Transfer (NYSE:ET) last released its 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 during the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. Energy Transfer’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. Equities analysts forecast that Energy Transfer LP will post 1.36 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be given a $0.325 dividend. The ex-dividend date is Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a dividend yield of 6.18%. Energy Transfer’s dividend payout ratio is currently 95.59%.

Hedge Funds Weigh In On Energy Transfer

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in shares of Energy Transfer in the 4th quarter worth about $29,000. Princeton Global Asset Management LLC raised its position in shares of Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares during the period. Assetmark Inc. boosted its stake in shares of Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after buying an additional 1,668 shares during the period. Financial Life Planners bought a new position in shares of Energy Transfer in the 4th quarter valued at $37,000. Finally, Citizens National Bank Trust Department bought a new position in Energy Transfer in the fourth quarter valued at about $39,000. 38.22% of the stock is currently owned by institutional investors.

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.