Energy Transfer (NYSE:ET) Trading 0.9% Higher – Here’s What Happened

Energy Transfer LP (NYSE:ET) shares traded up 0.9% during mid-day trading on Tuesday . The company traded as high as $19.20 and last traded at $19.15. 3,220,040 shares were traded during trading, a decline of 76% from the average session volume of 13,632,254 shares. The stock had previously closed at $18.97.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Royal Bank of Canada boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. UBS Group boosted their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Bank of America assumed coverage on Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Energy Transfer presently has an average rating of “Buy” and an average target price of $20.00.

Energy Transfer Stock Up 1.0 %

The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The stock has a 50 day simple moving average of $16.85 and a 200 day simple moving average of $16.25. The firm has a market capitalization of $66.42 billion, a PE ratio of 14.26, a PEG ratio of 0.61 and a beta of 1.66.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 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 business had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. During the same period in the previous year, the firm earned $0.31 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.34 earnings per share for the current year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.65%. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Hedge Funds Weigh In On Energy Transfer

Hedge funds have recently made changes to their positions in the business. FMR LLC grew its stake in Energy Transfer by 44.0% in the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after purchasing an additional 10,195,768 shares during the period. Tortoise Capital Advisors L.L.C. grew its stake in Energy Transfer by 12.7% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock worth $594,769,000 after purchasing an additional 4,141,715 shares during the period. International Assets Investment Management LLC grew its stake in Energy Transfer by 1,491.0% in the third quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock worth $67,020,000 after purchasing an additional 3,913,266 shares during the period. BNP Paribas Financial Markets grew its stake in Energy Transfer by 36.7% in the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after purchasing an additional 3,106,631 shares during the period. Finally, Citigroup Inc. grew its stake in Energy Transfer by 45.9% in the third quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after purchasing an additional 3,013,973 shares during the period. 38.22% of the stock is owned by hedge funds and other 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.