Energy Transfer (NYSE:ET) Trading 2.1% Higher – Here’s Why

by · The Cerbat Gem

Energy Transfer LP (NYSE:ET – Get Free Report)’s stock price was up 2.1% during trading on Tuesday . The stock traded as high as $17.37 and last traded at $17.17. Approximately 4,281,804 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 15,225,568 shares. The stock had previously closed at $16.82.

Analysts Set New Price Targets

A number of research firms have weighed in on ET. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Morgan Stanley lifted their price target on Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. The Goldman Sachs Group raised their price objective 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. Wells Fargo & Company raised their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, Barclays increased their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Energy Transfer currently has a consensus rating of “Moderate Buy” and an average price target of $22.09.

Check Out Our Latest Report on ET

Energy Transfer Stock Up 1.5 %

The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The stock’s 50-day moving average price is $18.47 and its 200-day moving average price is $18.44. The company has a market cap of $58.61 billion, a P/E ratio of 13.34, a PEG ratio of 0.64 and a beta of 1.32.

Energy Transfer (NYSE:ET – Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. As a group, research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a dividend of $0.325 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a yield of 7.61%. Energy Transfer’s dividend payout ratio is 101.56%.

Institutional Trading of Energy Transfer

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can lifted its holdings in Energy Transfer by 12,090.8% in the 4th quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company’s stock worth $244,005,000 after purchasing an additional 12,353,441 shares in the last quarter. FMR LLC lifted its stake in Energy Transfer by 15.7% in the 4th quarter. FMR LLC now owns 38,634,018 shares of the pipeline company’s stock worth $756,840,000 after purchasing an additional 5,254,721 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Energy Transfer during the 4th quarter valued at about $79,113,000. Hsbc Holdings PLC purchased a new position in shares of Energy Transfer during the fourth quarter valued at about $50,166,000. Finally, Westwood Holdings Group Inc. increased its holdings in shares of Energy Transfer by 18.2% in the fourth quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company’s stock worth $319,929,000 after purchasing an additional 2,512,060 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

About Energy Transfer

(Get Free Report)

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.

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