Energy Transfer (NYSE:ET) Stock Price Up 2.6% – Still a Buy?

Shares of Energy Transfer LP (NYSE:ET) shot up 2.6% during trading on Monday . The stock traded as high as $16.77 and last traded at $16.75. 4,969,019 shares changed hands during trading, a decline of 67% from the average session volume of 15,232,290 shares. The stock had previously closed at $16.33.

Analysts Set New Price Targets

ET has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Citigroup reiterated a “buy” rating on shares of Energy Transfer in a report on Monday, March 24th. Wells Fargo & Company boosted their target price on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. UBS Group restated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $23.00 price objective on shares of Energy Transfer in a report on Tuesday, March 25th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.09.

Energy Transfer Stock Performance

The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The firm’s fifty day moving average price is $18.41 and its two-hundred day moving average price is $18.43. The stock has a market capitalization of $58.69 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. As a group, equities research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were paid a $0.325 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a yield of 7.60%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is currently 101.56%.

Hedge Funds Weigh In On Energy Transfer

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Stonegate Investment Group LLC increased its position in shares of Energy Transfer by 1.4% during the fourth quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock worth $672,000 after purchasing an additional 482 shares in the last quarter. Private Client Services LLC grew its holdings in shares of Energy Transfer by 3.1% during the fourth 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 in the last quarter. United Advisor Group LLC raised its position in shares of Energy Transfer by 3.0% in the fourth quarter. United Advisor Group LLC now owns 18,540 shares of the pipeline company’s stock valued at $363,000 after buying an additional 534 shares during the last quarter. Wealthspire Advisors LLC lifted its stake in shares of Energy Transfer by 0.4% in the fourth quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock worth $2,551,000 after buying an additional 535 shares in the last quarter. Finally, Cannell & Spears LLC boosted its position in Energy Transfer by 0.4% during the fourth quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company’s stock worth $2,657,000 after acquiring an additional 546 shares during the last quarter. 38.22% of the stock is 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.