Energy Transfer (NYSE:ET) Trading 2.6% Higher – What’s Next?

Energy Transfer LP (NYSE:ET) was up 2.6% on Monday . The company traded as high as $16.77 and last traded at $16.75. Approximately 4,969,019 shares traded hands during trading, a decline of 67% from the average daily volume of 15,232,290 shares. The stock had previously closed at $16.33.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. UBS Group restated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Citigroup restated a “buy” rating on shares of Energy Transfer in a report on Monday, March 24th. Stifel Nicolaus lifted their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 price objective on shares of Energy Transfer in a research note on Tuesday, March 25th. Finally, Barclays increased their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.09.

Energy Transfer Stock Performance

The company has a market capitalization of $57.13 billion, a PE ratio of 13.01, a P/E/G ratio of 0.64 and a beta of 1.32. The stock’s 50-day simple moving average is $18.55 and its 200 day simple moving average is $18.44. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share 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 expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 7.81%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. Energy Transfer’s dividend payout ratio is 101.56%.

Institutional Trading of Energy Transfer

Several institutional investors have recently modified their holdings of the stock. National Bank of Canada FI boosted its holdings in Energy Transfer by 56.8% during the third quarter. National Bank of Canada FI now owns 45,381 shares of the pipeline company’s stock worth $728,000 after buying an additional 16,439 shares in the last quarter. MML Investors Services LLC increased its holdings in Energy Transfer by 2.4% during the 3rd quarter. MML Investors Services LLC now owns 109,984 shares of the pipeline company’s stock valued at $1,765,000 after acquiring an additional 2,620 shares in the last quarter. Geode Capital Management LLC raised its position in Energy Transfer by 4.2% during the third quarter. Geode Capital Management LLC now owns 126,331 shares of the pipeline company’s stock worth $2,028,000 after acquiring an additional 5,127 shares during the last quarter. World Investment Advisors LLC lifted its holdings in shares of Energy Transfer by 4.6% in the third quarter. World Investment Advisors LLC now owns 78,806 shares of the pipeline company’s stock valued at $1,265,000 after purchasing an additional 3,485 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB grew its position in shares of Energy Transfer by 1,265.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 231,398 shares of the pipeline company’s stock valued at $3,714,000 after purchasing an additional 214,446 shares during the last quarter. Hedge funds and other 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.