Energy Transfer (NYSE:ET) Trading 0.8% Higher

Energy Transfer LP (NYSE:ET)’s share price traded up 0.8% during trading on Tuesday . The stock traded as high as $15.96 and last traded at $15.96. 3,833,361 shares traded hands during trading, a decline of 69% from the average session volume of 12,369,467 shares. The stock had previously closed at $15.83.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Citigroup raised their price objective on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. UBS Group dropped their price objective on Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Finally, Mizuho reaffirmed a “buy” rating and set a $19.00 price objective (up previously from $18.00) on shares of Energy Transfer in a research note on Thursday, April 18th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Energy Transfer Price Performance

The company has a 50 day simple moving average of $15.30 and a 200-day simple moving average of $14.30. The stock has a market cap of $53.47 billion, a price-to-earnings ratio of 14.56 and a beta of 1.64. 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 released its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. The business had revenue of $20.53 billion for the quarter, compared to the consensus estimate of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. Energy Transfer’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 earnings per share. Research analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Institutional Trading of Energy Transfer

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. AE Wealth Management LLC grew its holdings in Energy Transfer by 17.6% during the third quarter. AE Wealth Management LLC now owns 146,752 shares of the pipeline company’s stock worth $2,059,000 after purchasing an additional 21,980 shares during the period. Ronald Blue Trust Inc. bought a new position in Energy Transfer during the third quarter worth about $34,000. RFG Advisory LLC grew its holdings in Energy Transfer by 9.3% during the third quarter. RFG Advisory LLC now owns 19,148 shares of the pipeline company’s stock worth $269,000 after purchasing an additional 1,627 shares during the period. Avior Wealth Management LLC grew its holdings in Energy Transfer by 3.1% during the third quarter. Avior Wealth Management LLC now owns 28,865 shares of the pipeline company’s stock worth $405,000 after purchasing an additional 855 shares during the period. Finally, Meridian Wealth Management LLC grew its holdings in Energy Transfer by 12.6% during the third quarter. Meridian Wealth Management LLC now owns 98,218 shares of the pipeline company’s stock worth $1,378,000 after purchasing an additional 11,014 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.