Energy Transfer (NYSE:ET) Stock Price Up 0.9% – Here’s Why

Energy Transfer LP (NYSE:ET) shares rose 0.9% on Monday . The stock traded as high as $20.76 and last traded at $20.67. Approximately 4,563,595 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 17,386,166 shares. The stock had previously closed at $20.48.

Wall Street Analysts Forecast Growth

ET has been the topic of several research reports. 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 note on Wednesday, December 18th. The Goldman Sachs Group upped their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Barclays lifted their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Royal Bank of Canada raised their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Bank of America assumed coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and an average target price of $20.82.

Energy Transfer Trading Up 0.1 %

The company has a market cap of $71.19 billion, a P/E ratio of 15.29, a P/E/G ratio of 0.54 and a beta of 1.69. The business’s 50-day moving average price is $19.66 and its 200 day moving average price is $17.57. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. The company 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%. The company’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 earnings per share. As a group, analysts expect that Energy Transfer LP will post 1.36 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be issued a dividend of $0.325 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a yield of 6.25%. The ex-dividend date is Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is presently 95.59%.

Hedge Funds Weigh In On Energy Transfer

A number of hedge funds have recently bought and sold shares of ET. Princeton Global Asset Management LLC grew its stake in Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares in the last quarter. Assetmark Inc. increased its stake in Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 1,668 shares during the last quarter. GAMMA Investing LLC bought a new stake in Energy Transfer during the fourth quarter worth $29,000. Financial Life Planners acquired a new stake in Energy Transfer in the fourth quarter valued at about $37,000. Finally, Citizens National Bank Trust Department bought a new stake in shares of Energy Transfer during the 4th quarter valued at approximately $39,000. 38.22% of the stock is owned by institutional investors.

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.