Energy Transfer (NYSE:ET) Price Target Increased to $20.00 by Analysts at JPMorgan Chase & Co.

Energy Transfer (NYSE:ET) had its price objective increased by JPMorgan Chase & Co. from $19.00 to $20.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an overweight rating on the pipeline company’s stock.

Several other research firms have also recently commented on ET. Morgan Stanley increased their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company an overweight rating in a research note on Monday, June 10th. UBS Group raised their price target on Energy Transfer from $23.00 to $24.00 and gave the company a buy rating in a report on Wednesday, May 15th. Citigroup boosted their price objective on Energy Transfer from $17.00 to $18.00 and gave the stock a buy rating in a report on Wednesday, February 21st. Mizuho raised their target price on Energy Transfer from $19.00 to $20.00 and gave the stock a buy rating in a report on Tuesday, June 18th. Finally, Stifel Nicolaus boosted their price target on shares of Energy Transfer from $18.00 to $19.00 and gave the company a buy rating in a report on Thursday, May 9th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Energy Transfer currently has an average rating of Moderate Buy and a consensus target price of $19.29.

Energy Transfer Price Performance

Shares of Energy Transfer stock opened at $15.72 on Thursday. The firm has a market cap of $52.98 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 0.43 and a beta of 1.63. The firm’s 50-day simple moving average is $15.67 and its 200-day simple moving average is $14.93. Energy Transfer has a twelve month low of $12.46 and a twelve month high of $16.40. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The company had revenue of $21.63 billion during the quarter, compared to the consensus estimate of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The business’s revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the company earned $0.32 earnings per share. As a group, research analysts expect that Energy Transfer will post 1.43 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were paid a dividend of $0.317 per share. This represents a $1.27 dividend on an annualized basis and a yield of 8.07%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, May 10th. Energy Transfer’s dividend payout ratio is presently 116.51%.

Institutional Trading of Energy Transfer

Several large investors have recently bought and sold shares of the business. Rehmann Capital Advisory Group increased its holdings in shares of Energy Transfer by 2.0% during the first quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock worth $505,000 after buying an additional 633 shares in the last quarter. Sfmg LLC raised its position in Energy Transfer by 2.2% in the first quarter. Sfmg LLC now owns 31,406 shares of the pipeline company’s stock valued at $494,000 after purchasing an additional 674 shares during the last quarter. FinTrust Capital Advisors LLC grew its holdings in shares of Energy Transfer by 3.6% during the first quarter. FinTrust Capital Advisors LLC now owns 20,201 shares of the pipeline company’s stock worth $318,000 after purchasing an additional 700 shares during the last quarter. Essex Financial Services Inc. increased its stake in shares of Energy Transfer by 2.2% in the first quarter. Essex Financial Services Inc. now owns 33,569 shares of the pipeline company’s stock valued at $528,000 after buying an additional 708 shares during the period. Finally, Veracity Capital LLC raised its holdings in Energy Transfer by 2.2% in the 1st quarter. Veracity Capital LLC now owns 32,916 shares of the pipeline company’s stock valued at $518,000 after buying an additional 713 shares during the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

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.