Energy Transfer (NYSE:ET) Stock Price Up 0.5%

Shares of Energy Transfer LP (NYSE:ET) rose 0.5% on Tuesday . The company traded as high as $16.48 and last traded at $16.44. Approximately 2,788,917 shares traded hands during trading, a decline of 76% from the average daily volume of 11,824,968 shares. The stock had previously closed at $16.36.

Analyst Upgrades and Downgrades

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

Energy Transfer Stock Down 0.4 %

The firm’s 50-day simple moving average is $15.76 and its 200 day simple moving average is $15.06. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. The company has a market cap of $55.03 billion, a P/E ratio of 14.98, a PEG ratio of 0.45 and a beta of 1.66.

Energy Transfer (NYSE:ET) last released its quarterly earnings data 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 net margin of 4.85% and a return on equity of 12.22%. The company had revenue of $21.63 billion during the quarter, compared to the consensus estimate of $20.91 billion. During the same quarter in the prior year, the company posted $0.32 EPS. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. On average, research analysts forecast that Energy Transfer LP will post 1.45 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were given a $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.76%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, May 10th. Energy Transfer’s dividend payout ratio (DPR) is currently 116.51%.

Institutional Inflows and Outflows

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