Energy Transfer (NYSE:ET) Trading 1.1% Higher – What’s Next?

Shares of Energy Transfer LP (NYSE:ET) rose 1.1% on Monday . The company traded as high as $18.99 and last traded at $18.94. Approximately 2,543,816 shares changed hands during trading, a decline of 86% from the average daily volume of 17,568,713 shares. The stock had previously closed at $18.73.

Wall Street Analyst Weigh In

ET has been the topic of a number of research reports. Barclays boosted their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Stifel Nicolaus raised their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Wells Fargo & Company upped their target price on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Finally, The Goldman Sachs Group boosted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.55.

Energy Transfer Price Performance

The firm has a market cap of $64.90 billion, a P/E ratio of 14.78, a P/E/G ratio of 0.64 and a beta of 1.72. The company has a fifty day moving average of $19.65 and a 200-day moving average of $18.19. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. On average, sell-side analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a dividend of $0.325 per share. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 6.87%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is presently 101.56%.

Hedge Funds Weigh In On Energy Transfer

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC boosted its position in Energy Transfer by 15.0% during the third quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock worth $5,567,000 after purchasing an additional 45,172 shares during the period. Watts Gwilliam & Co. LLC bought a new position in Energy Transfer during the fourth quarter worth about $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in Energy Transfer by 4.0% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock worth $148,621,000 after purchasing an additional 293,088 shares during the period. Forvis Mazars Wealth Advisors LLC lifted its holdings in shares of Energy Transfer by 164.1% in the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company’s stock worth $1,186,000 after buying an additional 37,633 shares in the last quarter. Finally, Kingsview Wealth Management LLC lifted its holdings in shares of Energy Transfer by 30.9% in the third quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock worth $3,885,000 after buying an additional 57,184 shares in the last quarter. 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.