Citigroup Issues Positive Forecast for Energy Transfer (NYSE:ET) Stock Price

Energy Transfer (NYSE:ET) had its price target upped by Citigroup from $20.00 to $22.00 in a research report report published on Tuesday, Marketbeat reports. They currently have a buy rating on the pipeline company’s stock.

Other equities research analysts have also issued research reports about the company. Barclays boosted their price target on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Stifel Nicolaus boosted their price target on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Wells Fargo & Company boosted their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Royal Bank of Canada lifted their target price on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report 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 report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and an average target price of $21.55.

Energy Transfer Price Performance

ET opened at $18.94 on Tuesday. The business’s 50-day moving average is $19.88 and its two-hundred day moving average is $17.97. Energy Transfer has a 1 year low of $14.52 and a 1 year high of $21.45. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The firm has a market capitalization of $64.97 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. Research analysts anticipate that Energy Transfer will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were paid a dividend of $0.325 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.87%. Energy Transfer’s dividend payout ratio (DPR) is presently 101.56%.

Hedge Funds Weigh In On Energy Transfer

Several large investors have recently made changes to their positions in the company. Bank of Montreal Can raised its position in shares of Energy Transfer by 12,090.8% in the fourth quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company’s stock worth $244,005,000 after acquiring an additional 12,353,441 shares during the period. FMR LLC increased its stake in shares of Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after purchasing an additional 10,195,768 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new position in Energy Transfer in the 4th quarter worth about $79,113,000. BNP Paribas Financial Markets boosted its position in Energy Transfer by 36.7% during the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after purchasing an additional 3,106,631 shares in the last quarter. Finally, Citigroup Inc. boosted its position in Energy Transfer by 45.9% during the third quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after purchasing an additional 3,013,973 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

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.