Energy Transfer (NYSE:ET) Trading 0.9% Higher – Time to Buy?

Energy Transfer LP (NYSE:ET)’s share price rose 0.9% during trading on Thursday . The stock traded as high as $21.27 and last traded at $21.11. Approximately 3,923,172 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 14,935,371 shares. The stock had previously closed at $20.92.

Analysts Set New Price Targets

Several research firms have recently weighed in on ET. Wells Fargo & Company lifted their target price on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Royal Bank of Canada boosted their price objective on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Bank of America started coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective for the company. The Goldman Sachs Group boosted their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Finally, Barclays raised their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Energy Transfer currently has an average rating of “Moderate Buy” and an average price target of $20.82.

Energy Transfer Stock Down 0.6 %

The firm has a 50-day moving average price of $19.39 and a two-hundred day moving average price of $17.34. The company has a market capitalization of $71.68 billion, a P/E ratio of 15.39, a PEG ratio of 0.55 and a beta of 1.70. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. During the same quarter in the prior year, the business earned $0.31 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Equities research analysts anticipate that Energy Transfer LP will post 1.37 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were issued a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.16%. The ex-dividend date was Friday, November 8th. Energy Transfer’s payout ratio is 94.85%.

Institutional Investors Weigh In On Energy Transfer

Large investors have recently modified their holdings of the stock. Empowered Funds LLC increased its position in shares of Energy Transfer by 15.0% during the 3rd quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock worth $5,567,000 after purchasing an additional 45,172 shares in the last quarter. Watts Gwilliam & Co. LLC acquired a new stake in shares of Energy Transfer during the fourth quarter worth approximately $1,297,000. Kingsview Wealth Management LLC raised its stake in shares of Energy Transfer by 30.9% in the third quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock valued at $3,885,000 after acquiring an additional 57,184 shares during the last quarter. Paragon Capital Management Ltd boosted its holdings in shares of Energy Transfer by 435.5% in the 4th quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock worth $1,346,000 after acquiring an additional 55,890 shares in the last quarter. Finally, FMR LLC grew its position in Energy Transfer by 44.0% during the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after acquiring an additional 10,195,768 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

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.