Energy Transfer (NYSE:ET) Shares Up 0.4%

Energy Transfer LP (NYSE:ET) shares were up 0.4% during mid-day trading on Wednesday . The stock traded as high as $16.23 and last traded at $16.19. Approximately 2,918,973 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 12,084,430 shares. The stock had previously closed at $16.13.

Analysts Set New Price Targets

ET has been the subject of a number of analyst reports. Stifel Nicolaus raised their price objective on shares of Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday. Mizuho reaffirmed a “buy” rating and issued a $19.00 price objective (up from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. UBS Group reduced their target price on Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, February 15th. Finally, Citigroup lifted their price objective on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.14.

Energy Transfer Price Performance

The firm has a 50-day simple moving average of $15.55 and a 200-day simple moving average of $14.44. The firm has a market capitalization of $53.64 billion, a PE ratio of 14.89 and a beta of 1.63. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The business had revenue of $21.63 billion during the quarter, compared to analysts’ expectations of $20.91 billion. During the same period in the previous year, the business posted $0.32 EPS. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. As a group, equities analysts forecast that Energy Transfer LP will post 1.56 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be 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 is Friday, May 10th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.96%. Energy Transfer’s payout ratio is 116.51%.

Institutional Trading of Energy Transfer

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