Energy Transfer (NYSE:ET) Given New $23.00 Price Target at Stifel Nicolaus

Energy Transfer (NYSE:ET) had its price objective boosted by Stifel Nicolaus from $21.00 to $23.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the pipeline company’s stock.

A number of other research firms have also recently commented on ET. The Goldman Sachs Group lifted their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Wells Fargo & Company raised their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. 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 report on Monday, January 13th. Royal Bank of Canada lifted their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, Bank of America assumed coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target for the company. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Energy Transfer presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.18.

Energy Transfer Trading Down 0.6 %

Shares of ET opened at $19.70 on Wednesday. Energy Transfer has a 1 year low of $13.95 and a 1 year high of $21.45. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The stock has a 50 day simple moving average of $19.73 and a 200-day simple moving average of $17.71. The stock has a market cap of $67.45 billion, a PE ratio of 14.49, a PEG ratio of 0.52 and a beta of 1.69.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. On average, sell-side analysts predict that Energy Transfer will post 1.37 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be issued a $0.325 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.60%. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Hedge Funds Weigh In On Energy Transfer

Large investors have recently added to or reduced their stakes in the company. Empowered Funds LLC raised its position in shares of Energy Transfer by 15.0% during the third quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock valued at $5,567,000 after buying an additional 45,172 shares during the last quarter. Watts Gwilliam & Co. LLC purchased a new stake in shares of Energy Transfer during the fourth quarter valued at $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its stake in shares of Energy Transfer by 4.0% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock valued at $148,621,000 after purchasing an additional 293,088 shares during the period. Kingsview Wealth Management LLC boosted its stake in shares of Energy Transfer by 30.9% during the third quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock valued at $3,885,000 after purchasing an additional 57,184 shares during the period. Finally, Paragon Capital Management Ltd lifted its stake in Energy Transfer by 435.5% in the fourth quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock worth $1,346,000 after acquiring an additional 55,890 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

About Energy Transfer

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.