Energy Transfer (NYSE:ET) Trading Up 0.3%

Energy Transfer LP (NYSE:ET)’s share price shot up 0.3% on Thursday . The stock traded as high as $16.00 and last traded at $15.97. 1,256,783 shares were traded during mid-day trading, a decline of 89% from the average session volume of 11,852,419 shares. The stock had previously closed at $15.92.

Analysts Set New Price Targets

A number of research analysts have commented on ET shares. Mizuho upped their price target on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Stifel Nicolaus raised their target price on Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, May 9th. JPMorgan Chase & Co. boosted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Morgan Stanley raised their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Finally, UBS Group upped their target price on shares of Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and a consensus price target of $19.29.

Energy Transfer Price Performance

The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00. The company has a market cap of $53.65 billion, a PE ratio of 14.66, a P/E/G ratio of 0.44 and a beta of 1.63. The business’s 50 day moving average is $15.71 and its 200-day moving average is $14.97.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The firm had revenue of $21.63 billion for the quarter, compared to analyst estimates of $20.91 billion. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 EPS. As a group, analysts predict that Energy Transfer LP will post 1.45 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were paid a dividend of $0.317 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.27 annualized dividend and a yield of 7.96%. Energy Transfer’s payout ratio is presently 116.51%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Northwest Financial Advisors acquired a new position in Energy Transfer during the fourth quarter worth approximately $25,000. Rise Advisors LLC raised its position in Energy Transfer by 88.2% in the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after purchasing an additional 927 shares during the last quarter. LRI Investments LLC acquired a new stake in Energy Transfer during the 1st quarter worth $29,000. Atlantic Edge Private Wealth Management LLC purchased a new position in Energy Transfer during the 4th quarter worth $33,000. Finally, Harbor Investment Advisory LLC increased its stake in Energy Transfer by 42.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 750 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

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.