Energy Transfer (NYSE:ET) Sees Large Volume Increase

Energy Transfer LP (NYSE:ET) saw strong trading volume on Wednesday . 8,565,707 shares traded hands during trading, a decline of 28% from the previous session’s volume of 11,867,256 shares.The stock last traded at $15.92 and had previously closed at $16.00.

Analysts Set New Price Targets

A number of equities research analysts have commented on ET shares. JPMorgan Chase & Co. increased their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. Mizuho increased their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Morgan Stanley increased their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. UBS Group increased their price objective on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Finally, Stifel Nicolaus upped their target price on shares of Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.29.

Energy Transfer Trading Down 0.6 %

The stock has a market capitalization of $53.62 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 0.44 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. The business’s 50-day simple moving average is $15.70 and its two-hundred day simple moving average is $14.96.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) 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 analysts’ expectations of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 EPS. On average, research analysts anticipate that Energy Transfer LP will post 1.45 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were paid a $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.97%. The ex-dividend date was Friday, May 10th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is 116.51%.

Institutional Trading of Energy Transfer

Institutional investors have recently added to or reduced their stakes in the business. Granite Group Advisors LLC boosted its holdings in shares of Energy Transfer by 5.3% during the first quarter. Granite Group Advisors LLC now owns 16,223 shares of the pipeline company’s stock valued at $255,000 after acquiring an additional 823 shares during the period. Pathway Financial Advisers LLC acquired a new position in shares of Energy Transfer during the first quarter valued at $1,039,000. Cetera Advisors LLC boosted its holdings in shares of Energy Transfer by 75.6% during the first quarter. Cetera Advisors LLC now owns 493,991 shares of the pipeline company’s stock valued at $7,770,000 after acquiring an additional 212,719 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Energy Transfer by 491.3% during the first quarter. Cetera Investment Advisers now owns 1,290,364 shares of the pipeline company’s stock valued at $20,297,000 after acquiring an additional 1,072,144 shares during the period. Finally, Burney Co. boosted its holdings in shares of Energy Transfer by 288.1% during the first quarter. Burney Co. now owns 63,046 shares of the pipeline company’s stock valued at $992,000 after acquiring an additional 46,800 shares during the period. 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.