Energy Transfer (NYSE:ET) Stock Price Up 1.7% – What’s Next?

Shares of Energy Transfer LP (NYSE:ET) rose 1.7% during trading on Monday . The company traded as high as $19.02 and last traded at $18.92. Approximately 3,201,763 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 14,477,267 shares. The stock had previously closed at $18.60.

Analysts Set New Price Targets

ET has been the subject of several research analyst reports. The Goldman Sachs Group lifted their price target 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. Wells Fargo & Company increased their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Stifel Nicolaus boosted their price objective 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. Morgan Stanley lifted their price target on Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Barclays upped their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.09.

Energy Transfer Stock Performance

The company has a market capitalization of $64.75 billion, a PE ratio of 14.74, a PEG ratio of 0.64 and a beta of 1.72. 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 business has a 50 day simple moving average of $19.54 and a 200 day simple moving average of $18.33.

Energy Transfer (NYSE:ET) last issued its quarterly 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%. Equities research analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 6.89%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer’s payout ratio is presently 101.56%.

Institutional Trading of Energy Transfer

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Watts Gwilliam & Co. LLC purchased a new position in shares of Energy Transfer during the 4th quarter valued at approximately $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in shares of Energy Transfer by 4.0% in the fourth 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 during the period. Forvis Mazars Wealth Advisors LLC boosted its stake in shares of Energy Transfer by 164.1% during the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company’s stock worth $1,186,000 after acquiring an additional 37,633 shares in the last quarter. Paragon Capital Management Ltd grew its position in shares of Energy Transfer by 435.5% during the 4th quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock valued at $1,346,000 after acquiring an additional 55,890 shares during the period. Finally, FFG Partners LLC raised its holdings in Energy Transfer by 0.9% in the 4th quarter. FFG Partners LLC now owns 1,650,574 shares of the pipeline company’s stock worth $32,335,000 after purchasing an additional 13,948 shares during the period. Institutional investors and hedge funds 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.