Energy Transfer (NYSE:ET) Shares Up 0.9% – Here’s Why

Energy Transfer LP (NYSE:ET)’s stock price shot up 0.9% on Thursday . The stock traded as high as $21.27 and last traded at $21.11. 3,923,172 shares changed hands during trading, a decline of 74% from the average session volume of 14,935,371 shares. The stock had previously closed at $20.92.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ET. Wells Fargo & Company raised their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Bank of America started coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. Royal Bank of Canada increased their price target 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. The Goldman Sachs Group upped their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Finally, Barclays lifted 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 assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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 stock’s 50 day moving average price is $19.39 and its 200 day moving average price is $17.34. The company has a market capitalization of $71.68 billion, a price-to-earnings ratio of 15.39, a P/E/G ratio of 0.55 and a beta of 1.70.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same period last year, the company earned $0.31 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. 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 announced 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. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 6.16%. Energy Transfer’s payout ratio is 94.85%.

Institutional Investors Weigh In On Energy Transfer

A number of institutional investors and hedge funds have recently modified their holdings of the company. Stonegate Investment Group LLC boosted its position in Energy Transfer by 1.4% during the fourth quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock worth $672,000 after purchasing an additional 482 shares during the period. Private Client Services LLC lifted its stake in shares of Energy Transfer by 3.1% during the 4th quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock worth $331,000 after buying an additional 511 shares during the last quarter. Daymark Wealth Partners LLC boosted its holdings in shares of Energy Transfer by 0.3% during the 4th quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock worth $3,148,000 after buying an additional 547 shares during the period. Marcum Wealth LLC grew its stake in Energy Transfer by 4.6% in the 4th quarter. Marcum Wealth LLC now owns 12,847 shares of the pipeline company’s stock valued at $252,000 after buying an additional 561 shares during the last quarter. Finally, Financial Freedom LLC raised its holdings in Energy Transfer by 26.8% in the 4th quarter. Financial Freedom LLC now owns 2,906 shares of the pipeline company’s stock valued at $57,000 after acquiring an additional 614 shares during the period. 38.22% of the stock is owned by institutional investors.

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.