Energy Transfer (NYSE:ET) Trading Up 2.1% – Time to Buy?

Energy Transfer LP (NYSE:ET) shot up 2.1% on Wednesday . The company traded as high as $18.33 and last traded at $18.21. 4,388,496 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 17,955,480 shares. The stock had previously closed at $17.83.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ET. Wells Fargo & Company lifted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Stifel Nicolaus boosted their target price 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. Royal Bank of Canada boosted 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. Barclays boosted 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. Finally, UBS Group restated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.55.

Energy Transfer Trading Up 4.2 %

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 firm’s 50-day moving average price is $19.72 and its 200 day moving average price is $18.14. The company has a market capitalization of $63.73 billion, a P/E ratio of 14.49, a P/E/G ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) 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 predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a dividend of $0.325 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.00%. The ex-dividend date was Friday, February 7th. Energy Transfer’s dividend payout ratio is currently 101.56%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ET. Mountain Hill Investment Partners Corp. purchased a new stake in Energy Transfer in the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC bought a new stake in Energy Transfer in the 4th quarter worth $26,000. GAMMA Investing LLC bought a new stake in Energy Transfer in the 4th quarter worth $29,000. Fourth Dimension Wealth LLC bought a new stake in Energy Transfer in the 4th quarter worth $29,000. Finally, Assetmark Inc. grew 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 during the last quarter. 38.22% of the stock is owned by 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.