Energy Transfer (NYSE:ET) Sets New 52-Week High – Still a Buy?

Energy Transfer LP (NYSE:ET) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $20.48 and last traded at $20.46, with a volume of 114938 shares traded. The stock had previously closed at $20.29.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ET shares. Bank of America began coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective for the company. Barclays raised their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. The Goldman Sachs Group boosted their price objective on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. 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. Finally, Royal Bank of Canada boosted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.82.

Energy Transfer Stock Up 0.8 %

The firm has a market cap of $70.05 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 0.53 and a beta of 1.70. The business’s 50-day moving average is $19.08 and its 200-day moving average is $17.23. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08.

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

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were given a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.31%. Energy Transfer’s payout ratio is 94.85%.

Institutional Investors Weigh In On Energy Transfer

Several hedge funds and other institutional investors have recently made changes to their positions in ET. Princeton Global Asset Management LLC lifted its holdings in Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after buying an additional 650 shares during the period. Assetmark Inc. grew its holdings in shares of Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after buying an additional 1,668 shares during the period. GAMMA Investing LLC acquired a new stake in Energy Transfer during the 4th quarter worth $29,000. HWG Holdings LP bought a new position in Energy Transfer during the second quarter worth about $33,000. Finally, Sugarloaf Wealth Management LLC grew its stake in Energy Transfer by 43.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after acquiring an additional 750 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

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.