Energy Transfer (NYSE:ET) Stock Price Up 0.7%

Energy Transfer LP (NYSE:ET)’s share price rose 0.7% during mid-day trading on Monday . The stock traded as high as $16.08 and last traded at $16.00. Approximately 3,566,194 shares were traded during trading, a decline of 71% from the average daily volume of 12,097,130 shares. The stock had previously closed at $15.89.

Analyst Ratings Changes

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

Energy Transfer Stock Performance

The firm has a 50-day moving average price of $15.52 and a two-hundred day moving average price of $14.43. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 1.37. The firm has a market cap of $54.74 billion, a PE ratio of 14.90 and a beta of 1.63.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.08. The firm had revenue of $20.53 billion for the quarter, compared to the consensus estimate of $21.46 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the firm posted $0.34 earnings per share. Research analysts forecast that Energy Transfer LP will post 1.56 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be given a dividend of $0.317 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.27 dividend on an annualized basis and a yield of 7.81%. Energy Transfer’s dividend payout ratio (DPR) is presently 115.60%.

Institutional Trading of Energy Transfer

Several hedge funds have recently made changes to their positions in the company. Northwest Financial Advisors acquired a new stake in shares of Energy Transfer during the 4th quarter worth about $25,000. Rise Advisors LLC boosted its stake in Energy Transfer by 88.2% during the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock worth $27,000 after buying an additional 927 shares during the period. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Energy Transfer during the fourth quarter valued at about $33,000. Harbor Investment Advisory LLC raised its stake in shares of Energy Transfer by 42.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 750 shares during the period. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in shares of Energy Transfer in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

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.