Energy Transfer (NYSE:ET) Trading Up 1.9% – Here’s Why

Energy Transfer LP (NYSE:ET)’s stock price traded up 1.9% during mid-day trading on Friday . The stock traded as high as $17.52 and last traded at $17.24. 11,249,104 shares were traded during trading, a decline of 26% from the average session volume of 15,208,299 shares. The stock had previously closed at $16.92.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus increased their price target on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Barclays lifted 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 price target on shares of Energy Transfer in a research note on Tuesday, March 25th. 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 research report on Thursday, December 19th. Finally, Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus price target of $22.09.

Energy Transfer Stock Up 1.9 %

The stock has a market capitalization of $59.14 billion, a PE ratio of 13.46, a PEG ratio of 0.64 and a beta of 1.32. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The business has a 50 day moving average of $18.29 and a two-hundred day moving average of $18.43.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. Analysts predict that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were paid a dividend of $0.325 per share. 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. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.54%. Energy Transfer’s payout ratio is presently 101.56%.

Hedge Funds Weigh In On Energy Transfer

Several hedge funds and other institutional investors have recently modified their holdings of ET. Bank of Montreal Can lifted its stake in shares of Energy Transfer by 12,090.8% during the fourth quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company’s stock worth $244,005,000 after buying an additional 12,353,441 shares during the period. FMR LLC raised its position in Energy Transfer by 15.7% during the 4th quarter. FMR LLC now owns 38,634,018 shares of the pipeline company’s stock worth $756,840,000 after buying an additional 5,254,721 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in Energy Transfer during the 4th quarter valued at approximately $79,113,000. Hsbc Holdings PLC purchased a new stake in shares of Energy Transfer in the 4th quarter valued at $50,166,000. Finally, Westwood Holdings Group Inc. increased its stake in shares of Energy Transfer by 18.2% in the fourth quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company’s stock worth $319,929,000 after acquiring an additional 2,512,060 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

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.