Energy Transfer (NYSE:ET) Price Target Raised to $23.00

Energy Transfer (NYSE:ET) had its price target raised by Stifel Nicolaus from $21.00 to $23.00 in a report released on Wednesday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the pipeline company’s stock.

Several other equities research analysts have also recently weighed in on ET. Bank of America initiated 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. The Goldman Sachs Group raised their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Barclays raised their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Wells Fargo & Company raised their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Finally, Royal Bank of Canada raised their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus price target of $21.18.

Energy Transfer Trading Up 0.8 %

Energy Transfer stock opened at $19.98 on Wednesday. The company has a market cap of $68.42 billion, a P/E ratio of 14.69, a PEG ratio of 0.52 and a beta of 1.69. The firm’s 50-day moving average is $19.76 and its 200-day moving average is $17.74. Energy Transfer has a 1 year low of $14.09 and a 1 year high of $21.45. 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 released its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. On average, equities analysts expect that Energy Transfer will post 1.37 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be given a $0.325 dividend. 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 6.51%. The ex-dividend date is Friday, February 7th. Energy Transfer’s dividend payout ratio is 94.85%.

Institutional Investors Weigh In On Energy Transfer

A number of institutional investors have recently modified their holdings of the company. Mountain Hill Investment Partners Corp. bought a new position in Energy Transfer during the fourth quarter worth $25,000. GAMMA Investing LLC bought a new position in Energy Transfer during the fourth quarter worth $29,000. Princeton Global Asset Management LLC boosted 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 acquiring an additional 650 shares in the last quarter. Assetmark Inc. boosted its stake in Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 1,668 shares in the last quarter. Finally, United Community Bank bought a new position in Energy Transfer during the fourth quarter worth $35,000. 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.