Energy Transfer (NYSE:ET) Trading 1.9% Higher – Here’s Why

Energy Transfer LP (NYSE:ET)’s share price shot up 1.9% during mid-day trading on Tuesday . The company traded as high as $20.42 and last traded at $20.37. 4,548,655 shares were traded during trading, a decline of 73% from the average session volume of 16,682,686 shares. The stock had previously closed at $19.99.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. The Goldman Sachs Group upped their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Barclays boosted their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Wells Fargo & Company raised their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Royal Bank of Canada boosted their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, Stifel Nicolaus raised their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and an average target price of $21.18.

Energy Transfer Stock Performance

The firm has a market capitalization of $68.54 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 0.53 and a beta of 1.69. 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 $19.85 and a 200-day moving average price of $17.86.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.66%. As a group, sell-side analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a dividend of $0.325 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 6.51%. Energy Transfer’s payout ratio is 101.56%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can increased its position in Energy Transfer by 12,090.8% during the 4th quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company’s stock worth $244,005,000 after purchasing an additional 12,353,441 shares during the period. FMR LLC lifted its holdings in Energy Transfer by 44.0% in the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after acquiring an additional 10,195,768 shares during the period. Zurich Insurance Group Ltd FI acquired a new stake in Energy Transfer in the fourth quarter valued at $79,113,000. International Assets Investment Management LLC lifted its stake in shares of Energy Transfer by 1,491.0% in the third quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock valued at $67,020,000 after purchasing an additional 3,913,266 shares during the period. Finally, BNP Paribas Financial Markets grew its position in Energy Transfer by 36.7% during the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after buying an additional 3,106,631 shares during the period. 38.22% of the stock is currently owned by hedge funds and other 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.