Energy Transfer (NYSE:ET) Trading 0.7% Higher – Here’s Why

Energy Transfer LP (NYSE:ET)’s stock price was up 0.7% during mid-day trading on Friday . The stock traded as high as $19.17 and last traded at $19.07. Approximately 2,329,641 shares traded hands during trading, a decline of 86% from the average daily volume of 16,746,961 shares. The stock had previously closed at $18.94.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Royal Bank of Canada lifted their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. The Goldman Sachs Group lifted their target price on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Stifel Nicolaus upped their price target on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Citigroup raised their price objective on shares of Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Finally, Wells Fargo & Company upped their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Energy Transfer presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.55.

Energy Transfer Trading Up 2.0 %

The stock’s 50 day simple moving average is $19.92 and its 200 day simple moving average is $18.03. The firm has a market cap of $66.27 billion, a PE ratio of 15.09, a PEG ratio of 0.64 and a beta of 1.69. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. On average, sell-side analysts forecast that Energy Transfer LP 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. Investors of record on Friday, February 7th were issued a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.73%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is currently 101.56%.

Institutional Trading of Energy Transfer

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pallas Capital Advisors LLC bought a new position in shares of Energy Transfer during the third quarter valued at about $197,000. Pinnacle Associates Ltd. boosted its holdings in Energy Transfer by 21.1% during the 3rd quarter. Pinnacle Associates Ltd. now owns 46,642 shares of the pipeline company’s stock valued at $749,000 after acquiring an additional 8,117 shares during the period. US Bancorp DE grew its position in Energy Transfer by 3.4% during the 3rd quarter. US Bancorp DE now owns 143,800 shares of the pipeline company’s stock worth $2,308,000 after acquiring an additional 4,723 shares during the last quarter. Creative Financial Designs Inc. ADV increased its stake in Energy Transfer by 10.7% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 12,410 shares of the pipeline company’s stock worth $199,000 after purchasing an additional 1,200 shares during the period. Finally, Gladstone Institutional Advisory LLC lifted its position in Energy Transfer by 100.7% in the third quarter. Gladstone Institutional Advisory LLC now owns 88,351 shares of the pipeline company’s stock valued at $1,418,000 after purchasing an additional 44,338 shares during the last quarter. 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.