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

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ET. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. The Goldman Sachs Group raised their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Barclays increased their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Citigroup lifted their price target on shares of Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Finally, Stifel Nicolaus increased their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.55.

Energy Transfer Stock Down 1.2 %

The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $64.04 billion, a PE ratio of 14.58, a PEG ratio of 0.64 and a beta of 1.72. The company’s 50 day moving average is $19.62 and its two-hundred day moving average is $18.23.

Energy Transfer (NYSE:ET) last issued its 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 return on equity of 11.56% and a net margin of 5.74%. On average, analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 6.96%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. Energy Transfer’s dividend payout ratio is 101.56%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ET. FMR LLC grew its stake in shares of Energy Transfer by 15.7% in the 4th quarter. FMR LLC now owns 38,634,018 shares of the pipeline company’s stock worth $756,840,000 after buying an additional 5,254,721 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its position in Energy Transfer by 7.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company’s stock worth $469,920,000 after acquiring an additional 1,723,683 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Energy Transfer by 5.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,776,221 shares of the pipeline company’s stock worth $387,416,000 after acquiring an additional 1,093,381 shares during the last quarter. Westwood Holdings Group Inc. raised its position in Energy Transfer by 18.2% during the fourth quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company’s stock valued at $319,929,000 after purchasing an additional 2,512,060 shares during the period. Finally, Chickasaw Capital Management LLC lifted its stake in shares of Energy Transfer by 2.5% in the 4th quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock valued at $308,319,000 after purchasing an additional 388,073 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

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.