Energy Transfer (NYSE:ET) Stock Price Up 0.3%

Shares of Energy Transfer LP (NYSE:ET) traded up 0.3% during trading on Thursday . The stock traded as high as $15.62 and last traded at $15.59. 3,128,075 shares traded hands during trading, a decline of 75% from the average session volume of 12,445,783 shares. The stock had previously closed at $15.54.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ET. Citigroup raised their target price on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. UBS Group lowered their price target on Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, February 15th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $17.57.

Energy Transfer Trading Up 1.2 %

The stock has a market cap of $53.00 billion, a PE ratio of 14.30 and a beta of 1.64. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88. The stock has a 50-day moving average price of $14.65 and a two-hundred day moving average price of $14.01.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.08. The firm had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $21.46 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The company’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 earnings per share. Sell-side analysts forecast that Energy Transfer LP will post 1.44 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Wednesday, February 7th were issued a $0.315 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.31. This represents a $1.26 annualized dividend and a dividend yield of 8.01%. The ex-dividend date was Tuesday, February 6th. Energy Transfer’s dividend payout ratio is currently 115.60%.

Institutional Investors Weigh In On Energy Transfer

Hedge funds have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. grew its position in shares of Energy Transfer by 67.6% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 53,572 shares of the pipeline company’s stock valued at $739,000 after buying an additional 21,606 shares during the last quarter. Fairman Group LLC acquired a new stake in shares of Energy Transfer in the fourth quarter valued at about $225,000. Addis & Hill Inc acquired a new stake in shares of Energy Transfer in the fourth quarter valued at about $1,003,000. Ables Iannone Moore & Associates Inc. acquired a new position in Energy Transfer during the fourth quarter worth about $34,000. Finally, ICA Group Wealth Management LLC purchased a new stake in shares of Energy Transfer during the fourth quarter worth about $185,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

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.