Energy Transfer LP (NYSE:ET – Get Free Report)’s share price shot up 1.9% during trading on Tuesday . The company traded as high as $20.71 and last traded at $20.69. 4,559,126 shares traded hands during trading, a decline of 68% from the average session volume of 14,082,285 shares. The stock had previously closed at $20.29.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on ET shares. Barclays raised their target price on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. The Goldman Sachs Group lifted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Wells Fargo & Company upped their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Royal Bank of Canada raised their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, Bank of America initiated coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective for the company. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.82.
Read Our Latest Stock Analysis on ET
Energy Transfer Stock Performance
Energy Transfer (NYSE:ET – Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.31 EPS. On average, research analysts forecast that Energy Transfer LP will post 1.37 earnings per share for the current year.
Energy Transfer Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.12%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.
Hedge Funds Weigh In On Energy Transfer
Hedge funds have recently made changes to their positions in the stock. Stonegate Investment Group LLC boosted its stake in shares of Energy Transfer by 1.4% in the fourth quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock valued at $672,000 after purchasing an additional 482 shares during the period. Private Client Services LLC raised its position in Energy Transfer by 3.1% in the 4th quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock valued at $331,000 after purchasing an additional 511 shares in the last quarter. Daymark Wealth Partners LLC boosted its stake in shares of Energy Transfer by 0.3% in the 4th quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock valued at $3,148,000 after buying an additional 547 shares during the period. Marcum Wealth LLC grew its position in shares of Energy Transfer by 4.6% during the fourth quarter. Marcum Wealth LLC now owns 12,847 shares of the pipeline company’s stock worth $252,000 after buying an additional 561 shares in the last quarter. Finally, Financial Freedom LLC increased its stake in shares of Energy Transfer by 26.8% during the fourth quarter. Financial Freedom LLC now owns 2,906 shares of the pipeline company’s stock worth $57,000 after buying an additional 614 shares during the period. Hedge funds and other institutional investors 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.
Read More
- Five stocks we like better than Energy Transfer
- What is an Earnings Surprise?
- Market Momentum: 3 Stocks Poised for Significant Breakouts
- What Are Growth Stocks and Investing in Them
- Kinder Morgan’s Uptrend is Only Half Over: New Highs Are Coming
- What is a buyback in stocks? A comprehensive guide for investors
- Momentum Builders: 3 Stocks Positioned to Shine This Quarter
Receive News & Ratings for Energy Transfer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energy Transfer and related companies with MarketBeat.com's FREE daily email newsletter.