Energy Transfer (NYSE:ET) Stock Price Up 1.2% – Still a Buy?

Energy Transfer LP (NYSE:ET) traded up 1.2% during trading on Wednesday . The stock traded as high as $20.65 and last traded at $20.59. 2,825,381 shares changed hands during trading, a decline of 84% from the average session volume of 17,253,789 shares. The stock had previously closed at $20.35.

Analyst Upgrades and Downgrades

ET has been the topic of a number of recent analyst reports. Barclays raised their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Wells Fargo & Company lifted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. 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. 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 objective for the company. Finally, Royal Bank of Canada boosted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $20.82.

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 business has a fifty day moving average of $19.48 and a 200-day moving average of $17.41. The company has a market cap of $70.28 billion, a PE ratio of 15.09, a P/E/G ratio of 0.55 and a beta of 1.70.

Energy Transfer (NYSE:ET) last announced its earnings results 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 return on equity of 12.38% and a net margin of 5.90%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 earnings per share. Equities research analysts anticipate that Energy Transfer LP will post 1.37 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be given a $0.325 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 6.33%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 94.85%.

Institutional Trading of Energy Transfer

Hedge funds have recently modified their holdings of the business. Princeton Global Asset Management LLC raised its stake in Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after buying an additional 650 shares during the last quarter. Assetmark Inc. raised its holdings in Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after buying an additional 1,668 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $29,000. Financial Life Planners bought a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $37,000. Finally, Sugarloaf Wealth Management LLC boosted its stake in Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 750 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

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.