Energy Transfer (NYSE:ET) Trading Up 1.1% – Should You Buy?

Shares of Energy Transfer LP (NYSE:ET) were up 1.1% during mid-day trading on Thursday . The company traded as high as $19.75 and last traded at $19.71. Approximately 9,007,061 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 16,512,867 shares. The stock had previously closed at $19.49.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ET shares. Royal Bank of Canada upped their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Wells Fargo & Company upped their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group boosted their target price on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Bank of America started coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. Finally, Barclays boosted their price objective on Energy Transfer from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Energy Transfer currently has an average rating of “Moderate Buy” and a consensus price target of $20.55.

Energy Transfer Stock Performance

The stock has a market capitalization of $67.49 billion, a price-to-earnings ratio of 14.49, a P/E/G ratio of 0.62 and a beta of 1.70. The company’s fifty day simple moving average is $18.61 and its 200 day simple moving average is $17.01. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The company had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.31 earnings per share. On average, equities research analysts expect that Energy Transfer LP will post 1.32 earnings per share for the current 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 given a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.54%. Energy Transfer’s payout ratio is 94.85%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ET. Private Client Services LLC lifted its position 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. Fortis Capital Management LLC raised its stake in Energy Transfer by 2.0% during the third quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock worth $513,000 after acquiring an additional 634 shares in the last quarter. Princeton Global Asset Management LLC lifted its holdings in shares of Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 650 shares during the last quarter. Haverford Trust Co boosted its stake in shares of Energy Transfer by 0.7% in the 3rd quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company’s stock valued at $1,640,000 after purchasing an additional 675 shares in the last quarter. Finally, Veracity Capital LLC grew its holdings in shares of Energy Transfer by 2.0% during the 3rd quarter. Veracity Capital LLC now owns 34,255 shares of the pipeline company’s stock valued at $550,000 after purchasing an additional 680 shares during the last quarter. Institutional investors 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.