Energy Transfer (NYSE:ET) Trading 0.2% Higher – Time to Buy?

Energy Transfer LP (NYSE:ET)’s stock price was up 0.2% on Thursday . The company traded as high as $19.02 and last traded at $18.96. Approximately 2,498,615 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 16,494,176 shares. The stock had previously closed at $18.93.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Stifel Nicolaus raised their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company lifted their price objective 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. UBS Group reissued a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Citigroup reissued a “buy” rating on shares of Energy Transfer in a report on Monday. Finally, Morgan Stanley raised their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.09.

Energy Transfer Stock Performance

The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $64.22 billion, a PE ratio of 14.62, a PEG ratio of 0.64 and a beta of 1.72. The firm’s fifty day moving average price is $19.46 and its 200 day moving average price is $18.36.

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

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid a $0.325 dividend. The ex-dividend date was Friday, February 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a yield of 6.95%. Energy Transfer’s payout ratio is 101.56%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ET. Mountain Hill Investment Partners Corp. bought a new stake in Energy Transfer in the fourth quarter worth $25,000. Capital A Wealth Management LLC bought a new stake in shares of Energy Transfer during the 4th quarter worth about $26,000. GAMMA Investing LLC acquired a new position in shares of Energy Transfer during the 4th quarter valued at about $29,000. Fourth Dimension Wealth LLC bought a new position in shares of Energy Transfer in the 4th quarter valued at approximately $29,000. Finally, United Community Bank acquired a new stake in Energy Transfer in the 4th quarter worth approximately $35,000. 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.