Energy Transfer (NYSE:ET) Trading Up 0.9% – Here’s Why

Energy Transfer LP (NYSE:ET) shares were up 0.9% during mid-day trading on Thursday . The company traded as high as $21.27 and last traded at $21.11. Approximately 3,923,172 shares were traded during trading, a decline of 74% from the average daily volume of 14,935,371 shares. The stock had previously closed at $20.92.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ET shares. Barclays raised their price objective 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 lifted their target price on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Bank of America initiated coverage on Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. Wells Fargo & Company lifted their target price on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, The Goldman Sachs Group boosted their price objective on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus target price of $20.82.

Energy Transfer Stock Performance

The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The company has a market capitalization of $72.54 billion, a P/E ratio of 15.57, a price-to-earnings-growth ratio of 0.55 and a beta of 1.70. The business has a 50 day moving average of $19.23 and a 200-day moving average of $17.28.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same period in the previous year, the company posted $0.31 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. On average, sell-side analysts predict that Energy Transfer LP will post 1.37 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were given a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.09%. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Hedge Funds Weigh In On Energy Transfer

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Stonegate Investment Group LLC grew its position in shares of Energy Transfer by 1.4% in the 4th quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock worth $672,000 after buying an additional 482 shares during the last quarter. Private Client Services LLC lifted its stake in shares of Energy Transfer by 3.1% in the 4th quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock valued at $331,000 after purchasing an additional 511 shares during the period. Daymark Wealth Partners LLC lifted its stake in shares of Energy Transfer by 0.3% in the 4th quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock valued at $3,148,000 after purchasing an additional 547 shares during the period. Marcum Wealth LLC lifted its stake in shares of Energy Transfer by 4.6% in the 4th quarter. Marcum Wealth LLC now owns 12,847 shares of the pipeline company’s stock valued at $252,000 after purchasing an additional 561 shares during the period. Finally, Financial Freedom LLC lifted its stake in shares of Energy Transfer by 26.8% in the 4th quarter. Financial Freedom LLC now owns 2,906 shares of the pipeline company’s stock valued at $57,000 after purchasing an additional 614 shares during the period. 38.22% of the stock is currently owned by 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.