Energy Transfer (NYSE:ET) Trading Up 0.1% – Here’s Why

Energy Transfer LP (NYSE:ET) shares were up 0.1% on Thursday . The company traded as high as $19.05 and last traded at $19.00. Approximately 3,539,198 shares changed hands during trading, a decline of 74% from the average daily volume of 13,673,355 shares. The stock had previously closed at $18.98.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ET shares. UBS Group boosted their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Bank of America began coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. Finally, Royal Bank of Canada upped 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. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $20.00.

Energy Transfer Price Performance

The company’s fifty day moving average is $17.23 and its 200 day moving average is $16.39. The firm has a market cap of $65.98 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 0.62 and a beta of 1.70. 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 quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. The firm had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the company posted $0.31 earnings per share. On average, equities research analysts predict that Energy Transfer LP will post 1.32 EPS for the current year.

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.69%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio is presently 94.85%.

Hedge Funds Weigh In On Energy Transfer

A number of hedge funds have recently bought and sold shares of the business. CWM LLC increased its holdings in Energy Transfer by 27.6% in the 2nd quarter. CWM LLC now owns 61,300 shares of the pipeline company’s stock valued at $994,000 after buying an additional 13,248 shares during the period. Simplicity Wealth LLC increased its holdings in Energy Transfer by 195.1% in the 2nd quarter. Simplicity Wealth LLC now owns 60,323 shares of the pipeline company’s stock valued at $978,000 after buying an additional 39,882 shares during the period. Sound Income Strategies LLC increased its holdings in Energy Transfer by 26.9% in the 2nd quarter. Sound Income Strategies LLC now owns 16,066 shares of the pipeline company’s stock valued at $261,000 after buying an additional 3,410 shares during the period. Fermata Advisors LLC bought a new position in Energy Transfer in the 2nd quarter valued at about $224,000. Finally, Perkins Coie Trust Co bought a new position in Energy Transfer in the 2nd quarter valued at about $151,000. 38.22% of the stock is owned by institutional investors.

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.