Energy Transfer (NYSE:ET) Trading Up 0.9% – Here’s Why

Energy Transfer LP (NYSE:ET) shares rose 0.9% during mid-day trading on Thursday . The stock traded as high as $21.27 and last traded at $21.11. Approximately 3,923,172 shares traded hands during trading, a decline of 74% from the average daily volume of 14,935,371 shares. The stock had previously closed at $20.92.

Analyst Ratings Changes

ET has been the subject of several recent research reports. Bank of America started coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective for the company. Wells Fargo & Company raised their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group raised their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Royal Bank of Canada increased their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, Barclays raised their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.82.

Energy Transfer Price Performance

The stock’s 50-day moving average is $19.23 and its 200-day moving average is $17.28. The firm has a market cap of $72.54 billion, a P/E ratio of 15.57, a price-to-earnings-growth ratio of 0.55 and a beta of 1.70. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting 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 during the quarter, compared to analysts’ expectations of $21.59 billion. During the same period in the previous year, the business posted $0.31 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities analysts anticipate that Energy Transfer LP will post 1.37 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were issued a $0.3225 dividend. This represents a $1.29 annualized dividend and a dividend yield of 6.09%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s payout ratio is presently 94.85%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC acquired a new stake in Energy Transfer in the second quarter valued at about $290,000. Benjamin F. Edwards & Company Inc. boosted its stake in Energy Transfer by 31.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 8,140 shares of the pipeline company’s stock valued at $132,000 after buying an additional 1,963 shares in the last quarter. AE Wealth Management LLC boosted its stake in Energy Transfer by 22.6% in the second quarter. AE Wealth Management LLC now owns 89,232 shares of the pipeline company’s stock valued at $1,447,000 after buying an additional 16,445 shares in the last quarter. Sei Investments Co. boosted its stake in Energy Transfer by 77.4% in the second quarter. Sei Investments Co. now owns 46,063 shares of the pipeline company’s stock valued at $747,000 after buying an additional 20,093 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Energy Transfer by 13.2% during the second quarter. EverSource Wealth Advisors LLC now owns 16,027 shares of the pipeline company’s stock valued at $261,000 after purchasing an additional 1,874 shares in the last quarter. Institutional investors 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.