Energy Transfer (NYSE:ET) Stock Price Up 1.1% – Here’s Why

Energy Transfer LP (NYSE:ET)’s share price was up 1.1% during trading on Monday . The company traded as high as $18.99 and last traded at $18.94. Approximately 2,543,816 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 17,568,713 shares. The stock had previously closed at $18.73.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Royal Bank of Canada increased their price objective on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Stifel Nicolaus lifted their price objective 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. UBS Group restated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. 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 note on Wednesday, December 18th. Finally, Citigroup increased their price objective on shares of Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. 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 currently has an average rating of “Moderate Buy” and a consensus price target of $21.55.

Energy Transfer Stock Performance

The company has a market capitalization of $64.90 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 0.64 and a beta of 1.72. The stock has a 50-day moving average price of $19.65 and a 200-day moving average price of $18.19. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last released its quarterly earnings results 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 11.56%. As a group, analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a $0.325 dividend. The ex-dividend date was Friday, February 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a yield of 6.87%. Energy Transfer’s payout ratio is currently 101.56%.

Hedge Funds Weigh In On Energy Transfer

Institutional investors have recently modified their holdings of the business. Mountain Hill Investment Partners Corp. acquired a new position in shares of Energy Transfer during the 4th quarter worth $25,000. Capital A Wealth Management LLC bought a new stake in Energy Transfer during the 4th quarter worth $26,000. Assetmark Inc. grew its position in Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 1,668 shares during the last quarter. GAMMA Investing LLC bought a new stake in Energy Transfer during the 4th quarter worth $29,000. Finally, Fourth Dimension Wealth LLC bought a new stake in Energy Transfer during the 4th quarter worth $29,000. Institutional investors and hedge funds 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.