Energy Transfer (NYSE:ET) Stock Price Up 1.4% – Here’s Why

Shares of Energy Transfer LP (NYSE:ET) were up 1.4% during mid-day trading on Wednesday . The company traded as high as $21.01 and last traded at $21.06. Approximately 3,490,723 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 17,175,264 shares. The stock had previously closed at $20.77.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ET shares. Bank of America started coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. The Goldman Sachs Group boosted 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 target price on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Barclays increased their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, 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 report on Wednesday, December 18th. 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, Energy Transfer presently has a consensus rating of “Moderate Buy” and an average price target of $20.82.

Energy Transfer Stock Down 2.2 %

The firm has a market cap of $68.19 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 0.54 and a beta of 1.69. The company has a 50-day simple moving average of $19.71 and a 200-day simple moving average of $17.61. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. During the same quarter in the previous year, the business earned $0.31 EPS. Energy Transfer’s revenue was up .2% compared to the same quarter last year. Analysts expect that Energy Transfer LP will post 1.36 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be issued a $0.325 dividend. The ex-dividend date is Friday, February 7th. This is a boost 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 6.53%. Energy Transfer’s dividend payout ratio is presently 94.85%.

Institutional Trading of Energy Transfer

Several institutional investors and hedge funds have recently modified their holdings of ET. Empowered Funds LLC increased its holdings in Energy Transfer by 15.0% during the 3rd quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock worth $5,567,000 after purchasing an additional 45,172 shares during the period. Watts Gwilliam & Co. LLC bought a new stake in Energy Transfer during the 4th quarter valued at $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in shares of Energy Transfer by 4.0% in the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock worth $148,621,000 after acquiring an additional 293,088 shares in the last quarter. Kingsview Wealth Management LLC lifted its stake in shares of Energy Transfer by 30.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock worth $3,885,000 after purchasing an additional 57,184 shares during the last quarter. Finally, Paragon Capital Management Ltd grew its stake in Energy Transfer by 435.5% in the fourth quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock valued at $1,346,000 after purchasing an additional 55,890 shares during the last quarter. 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.