Energy Transfer (NYSE:ET) Shares Up 0.2% – What’s Next?

Energy Transfer LP (NYSE:ET) was up 0.2% during mid-day trading on Tuesday . The stock traded as high as $20.98 and last traded at $20.81. Approximately 3,054,434 shares traded hands during trading, a decline of 82% from the average daily volume of 17,357,094 shares. The stock had previously closed at $20.76.

Analysts Set New Price Targets

ET has been the subject of several recent research reports. Bank of America initiated coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target for the company. Wells Fargo & Company upped their target price on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group upped their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Royal Bank of Canada raised their price objective 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. Finally, Barclays raised their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.82.

Energy Transfer Trading Up 0.6 %

The company has a market cap of $71.47 billion, a P/E ratio of 15.37, a PEG ratio of 0.54 and a beta of 1.69. The stock’s 50 day moving average is $19.63 and its 200-day moving average is $17.54. The company has a current ratio of 1.08, a quick ratio of 0.88 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 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 EPS. Research analysts anticipate that Energy Transfer LP will post 1.36 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be paid a dividend of $0.325 per share. The ex-dividend date is Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 6.23%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 94.85%.

Hedge Funds Weigh In On Energy Transfer

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Princeton Global Asset Management LLC increased its position in shares of Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares during the last quarter. Assetmark Inc. increased its holdings in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 1,668 shares in the last quarter. GAMMA Investing LLC purchased a new stake in Energy Transfer in the 4th quarter worth approximately $29,000. Financial Life Planners purchased a new stake in Energy Transfer in the 4th quarter worth approximately $37,000. Finally, Citizens National Bank Trust Department purchased a new stake in Energy Transfer in the 4th quarter worth approximately $39,000. 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.