Energy Transfer (NYSE:ET) Shares Up 1.1% – What’s Next?

Energy Transfer LP (NYSE:ET)’s stock price rose 1.1% on Thursday . The company traded as high as $19.71 and last traded at $19.42. Approximately 22,601,814 shares changed hands during mid-day trading, an increase of 65% from the average daily volume of 13,712,633 shares. The stock had previously closed at $19.20.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ET. Royal Bank of Canada increased their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Bank of America assumed coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. Finally, UBS Group boosted their price target on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Energy Transfer has an average rating of “Buy” and a consensus target price of $20.00.

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 firm has a market capitalization of $66.49 billion, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 0.61 and a beta of 1.66. The business’s 50 day simple moving average is $16.85 and its two-hundred day simple moving average is $16.25.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same quarter last year, the firm earned $0.31 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts anticipate that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a $0.3225 dividend. This represents a $1.29 annualized dividend and a dividend yield of 6.64%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio is currently 94.85%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ET. Peapack Gladstone Financial Corp raised its position in Energy Transfer by 6.8% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 15,675 shares of the pipeline company’s stock worth $251,000 after buying an additional 1,000 shares during the last quarter. Synovus Financial Corp grew its stake in shares of Energy Transfer by 69.8% in the third quarter. Synovus Financial Corp now owns 84,530 shares of the pipeline company’s stock worth $1,357,000 after acquiring an additional 34,749 shares during the period. Tidal Investments LLC raised its holdings in shares of Energy Transfer by 1.2% during the third quarter. Tidal Investments LLC now owns 101,738 shares of the pipeline company’s stock valued at $1,633,000 after purchasing an additional 1,248 shares during the last quarter. Wilmington Savings Fund Society FSB raised its holdings in shares of Energy Transfer by 1,265.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 231,398 shares of the pipeline company’s stock valued at $3,714,000 after purchasing an additional 214,446 shares during the last quarter. Finally, World Investment Advisors LLC lifted its position in Energy Transfer by 4.6% during the third quarter. World Investment Advisors LLC now owns 78,806 shares of the pipeline company’s stock valued at $1,265,000 after purchasing an additional 3,485 shares during the period. 38.22% of the stock is owned by 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.