Energy Transfer (NYSE:ET) Shares Up 0.7%

Energy Transfer LP (NYSE:ET) shares shot up 0.7% during mid-day trading on Monday . The stock traded as high as $16.08 and last traded at $16.00. 3,566,194 shares were traded during trading, a decline of 71% from the average session volume of 12,097,130 shares. The stock had previously closed at $15.89.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. UBS Group decreased their price target on Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. Mizuho reiterated a “buy” rating and set a $19.00 price target (up previously from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. Finally, Citigroup increased their price objective on shares of Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $18.00.

Energy Transfer Trading Up 0.7 %

The business has a 50 day moving average price of $15.52 and a 200 day moving average price of $14.43. The company has a market capitalization of $54.74 billion, a P/E ratio of 14.90 and a beta of 1.63. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.29 by $0.08. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The firm had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $21.46 billion. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The business’s quarterly revenue was up .2% on a year-over-year basis. Analysts anticipate that Energy Transfer LP will post 1.56 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be paid a $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 7.81%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, May 10th. Energy Transfer’s payout ratio is presently 115.60%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ET. Northwest Financial Advisors bought a new position in Energy Transfer during the 4th quarter worth about $25,000. Rise Advisors LLC grew its stake in shares of Energy Transfer by 88.2% during the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock worth $27,000 after acquiring an additional 927 shares in the last quarter. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Energy Transfer in the fourth quarter valued at approximately $33,000. Harbor Investment Advisory LLC boosted its holdings in Energy Transfer by 42.9% during the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 750 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new position in Energy Transfer in the fourth quarter valued at $34,000. 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.