Energy Transfer (NYSE:ET) Trading 0.5% Higher

Energy Transfer LP (NYSE:ET)’s share price shot up 0.5% on Monday . The stock traded as high as $15.30 and last traded at $15.23. 2,704,097 shares were traded during mid-day trading, a decline of 77% from the average session volume of 11,976,041 shares. The stock had previously closed at $15.16.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Morgan Stanley increased their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Citigroup raised their price target on shares of Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Stifel Nicolaus upped their price objective on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Mizuho restated a “buy” rating and set a $19.00 target price (up from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. Finally, UBS Group upped their price target on Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Energy Transfer presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.86.

Energy Transfer Stock Performance

The firm’s 50 day moving average price is $15.68 and its 200-day moving average price is $14.86. The firm has a market cap of $51.66 billion, a price-to-earnings ratio of 13.97, a P/E/G ratio of 0.42 and a beta of 1.63. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The firm had revenue of $21.63 billion for the quarter, compared to analyst estimates of $20.91 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the business earned $0.32 earnings per share. On average, analysts anticipate that Energy Transfer LP will post 1.43 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were issued a dividend of $0.317 per share. This represents a $1.27 dividend on an annualized basis and a yield of 8.27%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, May 10th. Energy Transfer’s payout ratio is presently 116.51%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ET. Northwest Financial Advisors acquired a new position in Energy Transfer in the fourth quarter worth $25,000. Rise Advisors LLC grew its holdings in Energy Transfer by 88.2% during the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock worth $27,000 after acquiring an additional 927 shares during the last quarter. LRI Investments LLC acquired a new stake in Energy Transfer in the 1st quarter valued at about $29,000. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Energy Transfer in the fourth quarter worth about $33,000. Finally, Harbor Investment Advisory LLC lifted its position in shares of Energy Transfer by 42.9% during the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 750 shares in the last quarter. 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.