Energy Transfer (NYSE:ET) Shares Up 0.2%

Energy Transfer LP (NYSE:ET) shares shot up 0.2% on Tuesday . The stock traded as high as $16.08 and last traded at $16.05. 8,816,110 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 12,727,421 shares. The stock had previously closed at $16.02.

Wall Street Analysts Forecast Growth

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

Energy Transfer Stock Performance

The firm has a market cap of $54.19 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 0.43 and a beta of 1.66. The company has a 50 day simple moving average of $15.88 and a 200-day simple moving average of $15.38. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). The firm had revenue of $21.63 billion during the quarter, compared to analysts’ expectations of $20.91 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 EPS. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.47 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Friday, August 9th will be paid a $0.32 dividend. The ex-dividend date is Friday, August 9th. This represents a $1.28 annualized dividend and a yield of 7.96%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 116.51%.

Institutional Trading of Energy Transfer

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwest Financial Advisors bought a new stake in Energy Transfer in the fourth quarter valued at approximately $25,000. LRI Investments LLC bought a new position in shares of Energy Transfer during the first quarter valued at approximately $29,000. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Energy Transfer during the fourth quarter valued at approximately $33,000. Harbor Investment Advisory LLC raised its holdings in shares of Energy Transfer by 42.9% during the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 750 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new position in shares of Energy Transfer during the fourth quarter valued at approximately $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.