Energy Transfer (NYSE:ET) Reaches New 52-Week High – What’s Next?

Energy Transfer LP (NYSE:ET) shares hit a new 52-week high on Tuesday . The company traded as high as $19.43 and last traded at $19.3940, with a volume of 2572767 shares. The stock had previously closed at $19.06.

Analyst Upgrades and Downgrades

ET has been the topic of a number of analyst reports. Truist Financial initiated coverage on shares of Energy Transfer in a research report on Tuesday. They issued a “buy” rating and a $23.00 target price on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Energy Transfer in a research report on Wednesday, December 24th. Barclays reiterated an “overweight” rating and issued a $22.00 price objective (down from $25.00) on shares of Energy Transfer in a report on Monday, January 12th. Jefferies Financial Group reissued a “hold” rating on shares of Energy Transfer in a research note on Wednesday, February 18th. Finally, TD Cowen increased their target price on Energy Transfer from $20.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.73.

Energy Transfer Stock Performance

The firm has a market cap of $66.62 billion, a P/E ratio of 16.00, a price-to-earnings-growth ratio of 1.05 and a beta of 0.63. The company has a current ratio of 1.22, a quick ratio of 0.90 and a debt-to-equity ratio of 1.50. The business’s fifty day simple moving average is $18.40 and its 200-day simple moving average is $17.35.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, February 17th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.09). The firm had revenue of $25.32 billion for the quarter, compared to the consensus estimate of $23.56 billion. Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. The business’s revenue was up 29.6% on a year-over-year basis. During the same period last year, the company posted $0.29 earnings per share. As a group, sell-side analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Friday, February 6th were given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend was Friday, February 6th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is currently 110.74%.

Institutional Investors Weigh In On Energy Transfer

A number of large investors have recently made changes to their positions in the business. Lee Financial Co raised its position in shares of Energy Transfer by 359.7% in the 3rd quarter. Lee Financial Co now owns 193,817 shares of the pipeline company’s stock worth $3,326,000 after acquiring an additional 151,657 shares in the last quarter. Eagle Global Advisors LLC boosted its position in shares of Energy Transfer by 6.0% during the third quarter. Eagle Global Advisors LLC now owns 6,466,059 shares of the pipeline company’s stock valued at $110,958,000 after purchasing an additional 363,623 shares in the last quarter. Corient Private Wealth LLC grew its stake in Energy Transfer by 223.7% in the second quarter. Corient Private Wealth LLC now owns 1,690,771 shares of the pipeline company’s stock worth $30,654,000 after purchasing an additional 1,168,440 shares during the period. Jump Financial LLC grew its stake in Energy Transfer by 2,687.9% in the second quarter. Jump Financial LLC now owns 1,791,358 shares of the pipeline company’s stock worth $32,477,000 after purchasing an additional 1,727,104 shares during the period. Finally, Maryland State Retirement & Pension System raised its holdings in Energy Transfer by 5.2% in the third quarter. Maryland State Retirement & Pension System now owns 2,927,436 shares of the pipeline company’s stock worth $50,235,000 after purchasing an additional 144,037 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.