Energy Transfer (NYSE:ET) Trading 1.7% Higher – Still a Buy?

Energy Transfer LP (NYSE:ET)’s share price rose 1.7% on Thursday . The company traded as high as $20.90 and last traded at $20.89. Approximately 3,375,975 shares changed hands during trading, a decline of 80% from the average daily volume of 16,859,127 shares. The stock had previously closed at $20.53.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ET shares. Wells Fargo & Company increased their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Barclays upped their price objective 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. 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. The Goldman Sachs Group upped their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Finally, Royal Bank of Canada upped their target price on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $20.82.

Energy Transfer Price Performance

The firm has a market cap of $72.30 billion, a price-to-earnings ratio of 15.53, a P/E/G ratio of 0.55 and a beta of 1.70. The stock’s fifty day moving average price is $19.52 and its 200-day moving average price is $17.44. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same period last year, the company earned $0.31 EPS. The company’s quarterly revenue was up .2% on a year-over-year basis. As a group, equities research analysts forecast that Energy Transfer LP will post 1.37 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be paid a $0.325 dividend. The ex-dividend date of this dividend is Friday, February 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.16%. Energy Transfer’s payout ratio is presently 94.85%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. FMR LLC increased its position in shares of Energy Transfer by 44.0% in 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 last quarter. Chickasaw Capital Management LLC increased its holdings in Energy Transfer by 2.5% in the fourth quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock valued at $308,319,000 after buying an additional 388,073 shares during the last quarter. Brookfield Corp ON raised its stake in Energy Transfer by 2.8% in the third quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock valued at $210,896,000 after buying an additional 352,625 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Energy Transfer by 36.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after buying an additional 3,106,631 shares during the last quarter. Finally, Citigroup Inc. boosted its position in shares of Energy Transfer by 45.9% during the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after acquiring an additional 3,013,973 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

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.