Energy Transfer (NYSE:ET) Shares Up 2.7% – Still a Buy?

Energy Transfer LP (NYSE:ET)’s stock price was up 2.7% during trading on Monday . The company traded as high as $20.21 and last traded at $20.1920. Approximately 9,974,820 shares were traded during trading, a decline of 29% from the average session volume of 14,130,306 shares. The stock had previously closed at $19.66.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ET shares. Scotiabank restated an “outperform” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Raymond James Financial reiterated a “strong-buy” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. Citigroup reissued a “buy” rating and issued a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 7th. UBS Group restated a “buy” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Finally, Barclays reaffirmed an “overweight” rating and set a $23.00 target price (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Energy Transfer currently has a consensus rating of “Buy” and a consensus target price of $23.45.

Energy Transfer Trading Up 2.7%

The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50. The firm has a market cap of $69.48 billion, a PE ratio of 16.83, a P/E/G ratio of 1.14 and a beta of 0.55. The business has a fifty day moving average price of $19.50 and a 200 day moving average price of $18.72.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The business had revenue of $27.77 billion during the quarter, compared to analyst estimates of $25.78 billion. During the same period last year, the company earned $0.36 earnings per share. The business’s revenue for the quarter was up 32.1% compared to the same quarter last year. Analysts forecast that Energy Transfer LP will post 1.43 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a $0.3375 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 6.7%. Energy Transfer’s payout ratio is 112.50%.

Institutional Trading of Energy Transfer

A number of hedge funds and other institutional investors have recently made changes to their positions in ET. Basepoint Wealth LLC purchased a new position in Energy Transfer during the 4th quarter worth approximately $25,000. Gables Capital Management Inc. lifted its stake in Energy Transfer by 60.0% in the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock valued at $26,000 after buying an additional 600 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Energy Transfer in the first quarter valued at approximately $35,000. Sarver Vrooman Wealth Advisors acquired a new stake in shares of Energy Transfer in the fourth quarter valued at approximately $32,000. Finally, Financial Life Planners acquired a new stake in shares of Energy Transfer in the first quarter valued at approximately $40,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

About Energy Transfer

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.