Energy Transfer (NYSE:ET) Trading 0.8% Higher

Shares of Energy Transfer LP (NYSE:ET) shot up 0.8% during mid-day trading on Tuesday . The stock traded as high as $15.96 and last traded at $15.96. 3,833,361 shares changed hands during trading, a decline of 69% from the average session volume of 12,369,467 shares. The stock had previously closed at $15.83.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ET. Citigroup raised their price target on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Mizuho restated a “buy” rating and set a $19.00 price target (up from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. Finally, UBS Group reduced their price target on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $18.00.

Energy Transfer Price Performance

The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $53.47 billion, a P/E ratio of 14.56 and a beta of 1.64. The business’s fifty day moving average price is $15.30 and its 200-day moving average price is $14.30.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The company had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $21.46 billion. During the same period in the previous year, the firm posted $0.34 EPS. The firm’s revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Institutional Trading of Energy Transfer

A number of hedge funds have recently made changes to their positions in the stock. Northwest Financial Advisors bought a new stake in Energy Transfer in the fourth quarter worth $25,000. Rise Advisors LLC lifted its stake in Energy Transfer by 88.2% in the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 927 shares during the last quarter. Atlantic Edge Private Wealth Management LLC bought a new stake in Energy Transfer in the fourth quarter worth $33,000. Ronald Blue Trust Inc. bought a new stake in Energy Transfer in the third quarter worth $34,000. Finally, Harbor Investment Advisory LLC lifted its stake in Energy Transfer by 42.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 750 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

About Energy Transfer

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.