Energy Transfer (NYSE:ET) Shares Up 2.9% – Still a Buy?

Energy Transfer LP (NYSE:ET)’s stock price rose 2.9% on Wednesday . The stock traded as high as $19.60 and last traded at $19.60. Approximately 6,987,384 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 13,726,538 shares. The stock had previously closed at $19.04.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Bank of America initiated coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target on the stock. UBS Group raised their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Royal Bank of Canada upped their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, Barclays lifted their price target on shares of Energy Transfer from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus target price of $20.55.

Energy Transfer Stock Performance

The firm has a market capitalization of $67.11 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 0.63 and a beta of 1.70. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The firm has a 50 day moving average price of $17.92 and a 200-day moving average price of $16.71.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The business 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 business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 earnings per share. As a group, sell-side analysts expect that Energy Transfer LP will post 1.32 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were given a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.58%. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%.

Hedge Funds Weigh In On Energy Transfer

Several large investors have recently bought and sold shares of ET. Princeton Global Asset Management LLC boosted its position in shares of Energy Transfer by 65.0% during the 3rd 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. boosted 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 valued at $28,000 after purchasing an additional 1,668 shares in the last quarter. HWG Holdings LP acquired a new stake in Energy Transfer during the second quarter worth approximately $33,000. Continuum Advisory LLC lifted its position in shares of Energy Transfer by 44.8% during the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after buying an additional 729 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC boosted its holdings in shares of Energy Transfer by 43.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after buying an additional 750 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

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.