Energy Transfer (NYSE:ET) Shares Up 0.1%

Energy Transfer LP (NYSE:ET) shares were up 0.1% during trading on Monday . The company traded as high as $16.38 and last traded at $16.24. Approximately 3,023,374 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 11,821,421 shares. The stock had previously closed at $16.22.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ET. Mizuho lifted their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. 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 note on Wednesday, May 15th. Stifel Nicolaus boosted their target price on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Finally, Morgan Stanley increased their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.29.

Energy Transfer Stock Performance

The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. The stock has a market capitalization of $55.07 billion, a P/E ratio of 14.90, a P/E/G ratio of 0.44 and a beta of 1.66. The stock has a 50 day moving average of $15.73 and a 200 day moving average of $15.02.

Energy Transfer (NYSE:ET) last released its quarterly earnings data 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 during 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 revenue was up 13.9% on a year-over-year basis. During the same period last year, the business earned $0.32 EPS. Equities analysts predict that Energy Transfer LP will post 1.45 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were given a dividend of $0.317 per share. The ex-dividend date of this dividend was Friday, May 10th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a dividend yield of 7.76%. Energy Transfer’s payout ratio is currently 116.51%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. First Reserve GP XIII Ltd bought a new stake in Energy Transfer during the fourth quarter worth approximately $322,097,000. Alps Advisors Inc. raised its stake in shares of Energy Transfer by 14.5% in the 3rd quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock worth $1,033,541,000 after buying an additional 9,341,798 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Energy Transfer by 38.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock valued at $353,576,000 after buying an additional 7,097,074 shares during the period. Clearbridge Investments LLC boosted its stake in Energy Transfer by 18.5% during the fourth quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock valued at $350,845,000 after buying an additional 3,976,676 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in Energy Transfer by 1,447.6% during the fourth quarter. International Assets Investment Management LLC now owns 3,756,955 shares of the pipeline company’s stock worth $518,460,000 after acquiring an additional 3,514,195 shares during the period. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Company Profile

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.