Energy Transfer (NYSE:ET) Shares Up 2.8% – Here’s Why

Energy Transfer LP (NYSE:ET)’s stock price shot up 2.8% on Friday . The company traded as high as $18.69 and last traded at $18.69. 3,363,337 shares traded hands during trading, a decline of 81% from the average session volume of 17,715,738 shares. The stock had previously closed at $18.17.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ET. The Goldman Sachs Group raised their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. UBS Group restated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Wells Fargo & Company raised their price objective 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. Citigroup raised their price objective on shares of Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Finally, Barclays raised their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $21.55.

Energy Transfer Stock Performance

The company has a market cap of $64.04 billion, a P/E ratio of 14.60, a PEG ratio of 0.64 and a beta of 1.72. The business’s 50 day simple moving average is $19.67 and its 200 day simple moving average is $18.14. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 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%. Sell-side analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, February 7th. 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. Energy Transfer’s dividend payout ratio (DPR) is presently 101.56%.

Institutional Investors Weigh In On Energy Transfer

Several institutional investors and hedge funds have recently modified their holdings of the stock. Alpha Wealth Funds LLC bought a new stake in Energy Transfer in the fourth quarter worth $2,143,000. Jefferies Financial Group Inc. increased its position in Energy Transfer by 125.0% in the fourth quarter. Jefferies Financial Group Inc. now owns 469,227 shares of the pipeline company’s stock worth $9,192,000 after purchasing an additional 260,700 shares during the last quarter. Carolinas Wealth Consulting LLC increased its position in Energy Transfer by 27.6% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 4,957 shares of the pipeline company’s stock worth $97,000 after purchasing an additional 1,073 shares during the last quarter. Capital A Wealth Management LLC bought a new stake in Energy Transfer in the fourth quarter worth $26,000. Finally, Leigh Baldwin & CO. LLC bought a new stake in Energy Transfer in the fourth quarter worth $244,000. Institutional investors own 38.22% of the company’s stock.

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.