Energy Transfer (NYSE:ET) Trading 1.7% Higher – Time to Buy?

Energy Transfer LP (NYSE:ET)’s share price shot up 1.7% during trading on Monday . The stock traded as high as $19.02 and last traded at $18.92. 3,201,763 shares were traded during trading, a decline of 78% from the average session volume of 14,477,267 shares. The stock had previously closed at $18.60.

Wall Street Analyst Weigh In

ET has been the topic of a number of research analyst reports. Citigroup upped their target price on Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Royal Bank of Canada upped their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Barclays raised their target price on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Wells Fargo & Company raised their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, Stifel Nicolaus raised their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.55.

Energy Transfer Price Performance

The stock has a market cap of $64.76 billion, a PE ratio of 14.73, a P/E/G ratio of 0.64 and a beta of 1.72. The business has a fifty day simple moving average of $19.57 and a two-hundred day simple moving average of $18.29. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share 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%. Research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were paid a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 6.89%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is presently 101.56%.

Institutional Investors Weigh In On Energy Transfer

Several hedge funds have recently bought and sold shares of the business. Mountain Hill Investment Partners Corp. purchased a new position in shares of Energy Transfer during the fourth quarter valued at approximately $25,000. Capital A Wealth Management LLC purchased a new position in Energy Transfer during the fourth quarter valued at $26,000. GAMMA Investing LLC bought a new stake in Energy Transfer in the fourth quarter worth $29,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Energy Transfer in the fourth quarter worth $29,000. Finally, United Community Bank bought a new position in shares of Energy Transfer during the fourth quarter valued at $35,000. 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.