Energy Transfer (NYSE:ET) Trading Up 0.5% – What’s Next?

Energy Transfer LP (NYSE:ET)’s share price shot up 0.5% on Wednesday . The stock traded as high as $20.51 and last traded at $20.41. 3,639,911 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 16,555,266 shares. The stock had previously closed at $20.30.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ET shares. Stifel Nicolaus upped their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Wells Fargo & Company raised their target price on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Royal Bank of Canada lifted their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Barclays increased their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, The Goldman Sachs Group lifted their target price on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $21.18.

Energy Transfer Stock Performance

The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The stock has a market cap of $68.80 billion, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 0.52 and a beta of 1.69. The firm’s 50-day moving average is $19.83 and its two-hundred day moving average is $17.84.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.66%. As a group, research analysts expect that Energy Transfer LP will post 1.47 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be paid a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 6.47%. The ex-dividend date is Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is 101.56%.

Hedge Funds Weigh In On Energy Transfer

Institutional investors have recently modified their holdings of the company. Empowered Funds LLC grew its stake in Energy Transfer by 15.0% in the 3rd quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock valued at $5,567,000 after buying an additional 45,172 shares during the last quarter. Watts Gwilliam & Co. LLC bought a new stake in Energy Transfer during the fourth quarter valued at about $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its position in shares of Energy Transfer by 4.0% in the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock valued at $148,621,000 after purchasing an additional 293,088 shares during the last quarter. Kingsview Wealth Management LLC increased its position in Energy Transfer by 30.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock worth $3,885,000 after buying an additional 57,184 shares during the period. Finally, Paragon Capital Management Ltd increased its position in Energy Transfer by 435.5% during the fourth quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock worth $1,346,000 after acquiring an additional 55,890 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.