Energy Transfer (NYSE:ET) Stock Price Up 0.1% – What’s Next?

Shares of Energy Transfer LP (NYSE:ET) were up 0.1% during trading on Monday . The stock traded as high as $19.35 and last traded at $19.08. Approximately 6,024,627 shares were traded during trading, a decline of 56% from the average daily volume of 13,613,294 shares. The stock had previously closed at $19.07.

Analyst Upgrades and Downgrades

Several analysts recently commented on ET shares. Bank of America started coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. Royal Bank of Canada lifted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, UBS Group lifted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Price Performance

The stock’s 50-day moving average is $16.78 and its 200-day moving average is $16.22. The firm has a market cap of $66.42 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 0.61 and a beta of 1.66. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.

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

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were issued a $0.3225 dividend. This represents a $1.29 annualized dividend and a yield of 6.65%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Institutional Investors Weigh In On Energy Transfer

Several institutional investors and hedge funds have recently made changes to their positions in ET. Tortoise Capital Advisors L.L.C. lifted its position in Energy Transfer by 12.7% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock valued at $594,769,000 after purchasing an additional 4,141,715 shares during the period. FMR LLC lifted its position in Energy Transfer by 44.0% during the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after purchasing an additional 10,195,768 shares during the period. Westwood Holdings Group Inc. lifted its position in Energy Transfer by 1.1% during the 2nd quarter. Westwood Holdings Group Inc. now owns 16,107,470 shares of the pipeline company’s stock valued at $261,263,000 after purchasing an additional 171,720 shares during the period. Chickasaw Capital Management LLC increased its stake in shares of Energy Transfer by 3.1% in the 3rd quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company’s stock valued at $246,376,000 after acquiring an additional 466,565 shares during the last quarter. Finally, Brookfield Corp ON grew its holdings in Energy Transfer by 2.8% during the third quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock valued at $210,896,000 after purchasing an additional 352,625 shares during the period. Institutional investors and hedge funds 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.