Energy Transfer (NYSE:ET) Trading Up 1.4% – Here’s Why

Energy Transfer LP (NYSE:ET)’s stock price was up 1.4% during mid-day trading on Thursday . The company traded as high as $19.36 and last traded at $19.3160. 8,620,610 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 14,429,854 shares. The stock had previously closed at $19.05.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Raymond James Financial restated a “strong-buy” rating on shares of Energy Transfer in a report on Wednesday, May 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a research note on Friday, June 5th. Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Wells Fargo & Company increased their target price on Energy Transfer from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, March 13th. Finally, Stifel Nicolaus raised their target price on Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Energy Transfer presently has a consensus rating of “Buy” and an average target price of $23.45.

Energy Transfer Trading Down 0.1%

The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93. The company’s 50 day moving average is $19.46 and its two-hundred day moving average is $18.59. The firm has a market cap of $66.47 billion, a P/E ratio of 16.10, a PEG ratio of 1.12 and a beta of 0.55.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.05). The firm had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $25.78 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The company’s revenue was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 earnings per share. On average, sell-side analysts predict that Energy Transfer LP will post 1.43 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were issued a dividend of $0.3375 per share. This represents a $1.35 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s payout ratio is 112.50%.

Institutional Investors Weigh In On Energy Transfer

Institutional investors have recently added to or reduced their stakes in the stock. Ballast Advisors LLC acquired a new stake in Energy Transfer in the 1st quarter valued at $96,000. Sapient Capital LLC grew its position in Energy Transfer by 4.0% in the first quarter. Sapient Capital LLC now owns 15,457 shares of the pipeline company’s stock valued at $298,000 after acquiring an additional 593 shares during the period. NewEdge Advisors LLC grew its position in Energy Transfer by 1.6% in the first quarter. NewEdge Advisors LLC now owns 860,407 shares of the pipeline company’s stock valued at $16,606,000 after acquiring an additional 13,785 shares during the period. Lavelle Capital LP acquired a new position in Energy Transfer during the first quarter worth $1,050,000. Finally, Alpine Woods Capital Investors LLC raised its stake in Energy Transfer by 21.5% during the first quarter. Alpine Woods Capital Investors LLC now owns 14,400 shares of the pipeline company’s stock worth $278,000 after acquiring an additional 2,550 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

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.