Energy Transfer (NYSE:ET) Shares Up 0.2%

Energy Transfer LP (NYSE:ET)’s share price rose 0.2% during mid-day trading on Wednesday . The stock traded as high as $16.47 and last traded at $16.43. Approximately 2,372,644 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 11,812,131 shares. The stock had previously closed at $16.40.

Wall Street Analysts Forecast Growth

ET has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. UBS Group increased their price target on shares of Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Mizuho lifted their price objective on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Stifel Nicolaus upped their price objective on Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Finally, Morgan Stanley raised their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.29.

Energy Transfer Stock Up 0.1 %

The company has a market cap of $55.30 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 0.44 and a beta of 1.66. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37. The firm’s fifty day moving average price is $15.76 and its 200-day moving average price is $15.06.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The business had revenue of $21.63 billion for the quarter, compared to analyst estimates of $20.91 billion. During the same period in the prior year, the business earned $0.32 EPS. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. Sell-side analysts predict that Energy Transfer LP will post 1.45 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were issued a $0.317 dividend. This represents a $1.27 annualized dividend and a dividend yield of 7.73%. The ex-dividend date of this dividend was Friday, May 10th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is 116.51%.

Institutional Trading of Energy Transfer

Several hedge funds and other institutional investors have recently modified their holdings of ET. Northwest Financial Advisors acquired a new position in Energy Transfer during the fourth quarter worth $25,000. Rise Advisors LLC grew its holdings in shares of Energy Transfer by 88.2% in the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 927 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Energy Transfer in the first quarter valued at about $29,000. Atlantic Edge Private Wealth Management LLC bought a new stake in Energy Transfer during the fourth quarter worth about $33,000. Finally, Harbor Investment Advisory LLC raised its holdings in Energy Transfer by 42.9% during the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 750 shares in the last quarter. Institutional investors and hedge funds 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.