Energy Transfer (NYSE:ET) Trading 1.3% Higher – Here’s Why

Energy Transfer LP (NYSE:ET)’s stock price rose 1.3% on Wednesday . The stock traded as high as $20.32 and last traded at $20.19. Approximately 4,596,221 shares were traded during trading, a decline of 65% from the average daily volume of 13,178,051 shares. The stock had previously closed at $19.93.

Analyst Upgrades and Downgrades

ET has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Barclays upped their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday. Bank of America started coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective for the company. Wells Fargo & Company upped their price target on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada upped their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.82.

Energy Transfer Stock Up 0.2 %

The firm has a market capitalization of $69.45 billion, a price-to-earnings ratio of 14.91, a price-to-earnings-growth ratio of 0.57 and a beta of 1.70. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The business’s 50 day moving average is $18.96 and its 200-day moving average is $17.16.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same period in the previous year, the company posted $0.31 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Equities analysts anticipate that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a $0.3225 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 6.36%. Energy Transfer’s dividend payout ratio is 94.85%.

Institutional Investors Weigh In On Energy Transfer

Hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC raised its holdings in Energy Transfer by 15.0% in the 3rd quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock valued at $5,567,000 after acquiring an additional 45,172 shares in the last quarter. Watts Gwilliam & Co. LLC acquired a new position in shares of Energy Transfer in the fourth quarter valued at $1,297,000. Kingsview Wealth Management LLC lifted its position in Energy Transfer by 30.9% in the third 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 period. FMR LLC boosted its stake in Energy Transfer by 44.0% during the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after buying an additional 10,195,768 shares in the last quarter. Finally, Clear Street Derivatives LLC bought a new stake in Energy Transfer in the 3rd quarter valued at $2,565,000. 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.