Energy Transfer (NYSE:ET) Trading Up 0.2%

Energy Transfer LP (NYSE:ET)’s stock price traded up 0.2% during trading on Wednesday . The stock traded as high as $16.47 and last traded at $16.43. 2,372,644 shares traded hands during trading, a decline of 80% from the average session volume of 11,812,131 shares. The stock had previously closed at $16.40.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ET. Morgan Stanley increased their price target on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Stifel Nicolaus raised their target price on Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. UBS Group boosted their price target on shares of Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Mizuho raised their price objective on shares of 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. boosted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $19.29.

Energy Transfer Stock Performance

The firm’s fifty day moving average is $15.76 and its 200 day moving average is $15.07. The firm has a market capitalization of $55.03 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 0.45 and a beta of 1.66. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $20.91 billion. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The company’s revenue was up 13.9% on a year-over-year basis. On average, analysts predict that Energy Transfer LP will post 1.45 EPS for the current fiscal year.

Energy Transfer Increases Dividend

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

Institutional Investors Weigh In On Energy Transfer

Several large investors have recently made changes to their positions in the company. Northwest Financial Advisors bought a new position in Energy Transfer during the fourth quarter valued at about $25,000. Rise Advisors LLC lifted its holdings in Energy Transfer by 88.2% in the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 927 shares during the last quarter. LRI Investments LLC bought a new stake in Energy Transfer during the first quarter worth approximately $29,000. Atlantic Edge Private Wealth Management LLC acquired a new position in Energy Transfer during the fourth quarter valued at approximately $33,000. Finally, Harbor Investment Advisory LLC raised its position in shares of Energy Transfer by 42.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 750 shares during the period. 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.