Energy Transfer (NYSE:ET) Trading Up 0.2%

Energy Transfer LP (NYSE:ET)’s stock price shot up 0.2% during trading on Wednesday . The company traded as high as $16.47 and last traded at $16.43. 2,372,644 shares were traded during trading, a decline of 80% from the average session volume of 11,812,131 shares. The stock had previously closed at $16.40.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ET shares. Stifel Nicolaus boosted their price target on Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Morgan Stanley boosted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Mizuho raised their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. UBS Group boosted their price objective on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. raised their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.29.

Energy Transfer Stock Up 0.1 %

The stock has a market cap of $55.30 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 0.44 and a beta of 1.66. The firm’s 50-day moving average is $15.76 and its 200 day moving average is $15.06. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The firm had revenue of $21.63 billion during the quarter, compared to analyst estimates of $20.91 billion. During the same quarter in the previous year, the business posted $0.32 EPS. Energy Transfer’s revenue was up 13.9% compared to the same quarter last year. Sell-side analysts anticipate that Energy Transfer LP will post 1.45 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were issued a dividend of $0.317 per share. The ex-dividend date was Friday, May 10th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.73%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is presently 116.51%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Cullen Investment Group LTD. lifted its stake in shares of Energy Transfer by 1.8% during the second quarter. Cullen Investment Group LTD. now owns 62,800 shares of the pipeline company’s stock worth $1,019,000 after purchasing an additional 1,100 shares in the last quarter. Granite Group Advisors LLC lifted its holdings in Energy Transfer by 5.3% in the 1st quarter. Granite Group Advisors LLC now owns 16,223 shares of the pipeline company’s stock worth $255,000 after buying an additional 823 shares in the last quarter. Pathway Financial Advisers LLC purchased a new stake in shares of Energy Transfer during the first quarter worth about $1,039,000. Cetera Advisors LLC raised its position in shares of Energy Transfer by 75.6% in the 1st quarter. Cetera Advisors LLC now owns 493,991 shares of the pipeline company’s stock valued at $7,770,000 after purchasing an additional 212,719 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in shares of Energy Transfer by 491.3% during the first quarter. Cetera Investment Advisers now owns 1,290,364 shares of the pipeline company’s stock worth $20,297,000 after buying an additional 1,072,144 shares in 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.