Energy Transfer (NYSE:ET) Trading 1.6% Higher – Here’s What Happened

Shares of Energy Transfer LP (NYSE:ET) were up 1.6% on Wednesday . The company traded as high as $21.45 and last traded at $21.25. Approximately 7,234,168 shares were traded during trading, a decline of 51% from the average daily volume of 14,760,646 shares. The stock had previously closed at $20.91.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ET. Barclays lifted their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Wells Fargo & Company upped their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Bank of America began coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target for the company. Royal Bank of Canada upped their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, The Goldman Sachs Group lifted their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.82.

Energy Transfer Trading Down 0.6 %

The firm’s fifty day moving average price is $19.31 and its 200-day moving average price is $17.31. The company has a market cap of $71.68 billion, a price-to-earnings ratio of 15.39, a P/E/G ratio of 0.55 and a beta of 1.70. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The firm had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. Energy Transfer’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.31 EPS. On average, equities analysts expect that Energy Transfer LP will post 1.37 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 6.16%. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Institutional Trading of Energy Transfer

Several institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC acquired a new position in shares of Energy Transfer in the 2nd quarter valued at $290,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Energy Transfer by 31.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 8,140 shares of the pipeline company’s stock worth $132,000 after buying an additional 1,963 shares during the period. Sei Investments Co. increased its position in shares of Energy Transfer by 77.4% in the second quarter. Sei Investments Co. now owns 46,063 shares of the pipeline company’s stock worth $747,000 after acquiring an additional 20,093 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Energy Transfer by 4.1% in the 2nd quarter. Bank of Montreal Can now owns 98,342 shares of the pipeline company’s stock valued at $1,598,000 after acquiring an additional 3,887 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C acquired a new position in Energy Transfer in the 2nd quarter worth approximately $422,000. 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.