Energy Transfer (NYSE:ET) Stock Price Up 1.9% – Should You Buy?

by · The Markets Daily

Shares of Energy Transfer LP (NYSE:ET – Get Free Report) were up 1.9% during trading on Tuesday . The company traded as high as $20.71 and last traded at $20.69. Approximately 4,559,126 shares traded hands during trading, a decline of 68% from the average daily volume of 14,082,285 shares. The stock had previously closed at $20.29.

Analyst Ratings Changes

ET has been the subject of several research reports. Wells Fargo & Company increased their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Barclays increased their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. The Goldman Sachs Group upped their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Royal Bank of Canada boosted their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, Bank of America began coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target for the company. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $20.82.

Get Our Latest Stock Analysis on ET

Energy Transfer Stock Performance

The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The stock’s 50 day moving average price is $19.08 and its two-hundred day moving average price is $17.23. The firm has a market capitalization of $71.44 billion, a PE ratio of 15.33, a PEG ratio of 0.53 and a beta of 1.70.

Energy Transfer (NYSE:ET – Get Free Report) last posted 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. The company had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.31 EPS. On average, equities analysts expect that Energy Transfer LP will post 1.37 earnings per share for the current year.

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors 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 yield of 6.18%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s payout ratio is 94.85%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC bought a new position in shares of Energy Transfer during the fourth quarter worth about $29,000. Princeton Global Asset Management LLC raised its position in Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 650 shares in the last quarter. Assetmark Inc. increased its stake in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares in the last quarter. HWG Holdings LP acquired a new position in Energy Transfer during the second quarter valued at $33,000. Finally, Continuum Advisory LLC boosted its holdings in shares of Energy Transfer by 44.8% during the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 729 shares during the period. 38.22% of the stock is currently owned by institutional investors.

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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