Energy Transfer (NYSE:ET) Trading Up 0.6%

Energy Transfer LP (NYSE:ET) was up 0.6% on Wednesday . The company traded as high as $16.33 and last traded at $16.30. Approximately 1,215,268 shares changed hands during trading, a decline of 90% from the average daily volume of 12,707,395 shares. The stock had previously closed at $16.21.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ET. Mizuho increased their target price on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. JPMorgan Chase & Co. raised their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Stifel Nicolaus raised their price objective on Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. UBS Group raised their target price on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Finally, Morgan Stanley raised their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, June 10th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $19.29.

Energy Transfer Stock Performance

The stock has a market capitalization of $54.83 billion, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 0.42 and a beta of 1.66. The company has a 50-day moving average price of $15.88 and a two-hundred day moving average price of $15.40. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The business had revenue of $21.63 billion during the quarter, compared to analysts’ expectations of $20.91 billion. During the same quarter in the previous year, the firm earned $0.32 EPS. Energy Transfer’s quarterly revenue was up 13.9% on a year-over-year basis. On average, equities analysts forecast that Energy Transfer LP will post 1.47 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Friday, August 9th will be paid a $0.32 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, August 9th. This represents a $1.28 annualized dividend and a yield of 7.87%. Energy Transfer’s dividend payout ratio is presently 116.51%.

Hedge Funds Weigh In On Energy Transfer

Institutional investors have recently bought and sold shares of the company. Northwest Financial Advisors bought a new position in shares of Energy Transfer in the fourth quarter worth $25,000. LRI Investments LLC bought a new position in shares of Energy Transfer in the first quarter worth $29,000. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Energy Transfer in the fourth quarter worth $33,000. Harbor Investment Advisory LLC increased its holdings in shares of Energy Transfer by 42.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 750 shares during the period. Finally, Ables Iannone Moore & Associates Inc. bought a new position in shares of Energy Transfer in the fourth quarter worth $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.