Energy Transfer (NYSE:ET) Shares Up 0.5% – Still a Buy?

Energy Transfer LP (NYSE:ET)’s share price rose 0.5% during trading on Monday . The company traded as high as $19.77 and last traded at $19.74. Approximately 2,364,376 shares were traded during trading, a decline of 84% from the average daily volume of 14,885,208 shares. The stock had previously closed at $19.64.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Barclays lifted their price target on Energy Transfer from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Royal Bank of Canada lifted their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Wells Fargo & Company increased their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Bank of America began coverage on shares of 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, UBS Group increased their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.55.

Energy Transfer Price Performance

The stock has a market cap of $67.18 billion, a PE ratio of 14.43, a P/E/G ratio of 0.63 and a beta of 1.70. 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 company has a fifty day moving average of $18.41 and a 200-day moving average of $16.94.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. The firm had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. Energy Transfer’s revenue was up .2% compared to the same quarter last year. During the same period last year, the business posted $0.31 earnings per share. Sell-side analysts expect that Energy Transfer LP will post 1.32 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were issued a $0.3225 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.57%. Energy Transfer’s payout ratio is 94.85%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its holdings in Energy Transfer by 32.3% during the second quarter. Bank of New York Mellon Corp now owns 94,442 shares of the pipeline company’s stock worth $1,532,000 after purchasing an additional 23,079 shares in the last quarter. Natixis Advisors LLC purchased a new stake in Energy Transfer in the second quarter valued at $419,000. National Bank of Canada FI boosted its stake in Energy Transfer by 5.5% in the second quarter. National Bank of Canada FI now owns 28,942 shares of the pipeline company’s stock valued at $473,000 after acquiring an additional 1,500 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Energy Transfer by 13.9% during the second quarter. Private Advisor Group LLC now owns 564,336 shares of the pipeline company’s stock worth $9,154,000 after purchasing an additional 68,945 shares in the last quarter. Finally, Advisor OS LLC lifted its holdings in shares of Energy Transfer by 2.3% in the 2nd quarter. Advisor OS LLC now owns 45,979 shares of the pipeline company’s stock valued at $746,000 after purchasing an additional 1,031 shares during the last quarter. 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.