Energy Transfer (NYSE:ET) Stock Price Up 2.9% – Should You Buy?

Energy Transfer LP (NYSE:ET) shares were up 2.9% during trading on Wednesday . The company traded as high as $19.60 and last traded at $19.60. Approximately 6,987,384 shares traded hands during trading, a decline of 49% from the average daily volume of 13,726,538 shares. The stock had previously closed at $19.04.

Analyst Ratings Changes

ET has been the subject of several research analyst reports. UBS Group raised their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Royal Bank of Canada upped their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Bank of America initiated coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. Barclays increased their price target on Energy Transfer from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Finally, Wells Fargo & Company upped their target price on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.55.

Energy Transfer Price Performance

The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $67.11 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 0.63 and a beta of 1.70. The stock’s 50-day simple moving average is $17.92 and its two-hundred day simple moving average is $16.71.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same quarter in the prior year, the firm earned $0.31 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. Equities research analysts predict that Energy Transfer LP will post 1.32 earnings per share for the current year.

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.58%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio is presently 94.85%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC grew its holdings in shares of 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 buying an additional 45,172 shares in the last quarter. Kingsview Wealth Management LLC raised its holdings in Energy Transfer by 30.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock valued at $3,885,000 after acquiring an additional 57,184 shares during the last quarter. FMR LLC lifted its stake in Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after purchasing an additional 10,195,768 shares in the last quarter. Clear Street Derivatives LLC acquired a new position in shares of Energy Transfer during the 3rd quarter worth approximately $2,565,000. Finally, GFS Advisors LLC grew its position in shares of Energy Transfer by 19,380.5% in the third quarter. GFS Advisors LLC now owns 60,000 shares of the pipeline company’s stock valued at $963,000 after purchasing an additional 59,692 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

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.