Energy Transfer (NYSE:ET) Trading 1.2% Higher Following Analyst Upgrade

Energy Transfer LP (NYSE:ET)’s share price rose 1.2% during mid-day trading on Wednesday after Morgan Stanley raised their price target on the stock from $20.00 to $26.00. Morgan Stanley currently has an overweight rating on the stock. Energy Transfer traded as high as $19.07 and last traded at $19.12. Approximately 2,003,072 shares were traded during trading, a decline of 86% from the average daily volume of 14,460,194 shares. The stock had previously closed at $18.88.

A number of other research firms have also issued reports on ET. Stifel Nicolaus boosted their target price on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Citigroup reissued a “buy” rating on shares of Energy Transfer in a research note on Monday. Barclays raised their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Wells Fargo & Company boosted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, The Goldman Sachs Group raised their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. One 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.com, Energy Transfer has an average rating of “Moderate Buy” and an average price target of $22.09.

Institutional Trading of Energy Transfer

Institutional investors have recently bought and sold shares of the company. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Energy Transfer in the 4th quarter worth about $25,000. Capital A Wealth Management LLC purchased a new stake in shares of Energy Transfer in the fourth quarter valued at about $26,000. GAMMA Investing LLC acquired a new stake in shares of Energy Transfer in the fourth quarter valued at approximately $29,000. Fourth Dimension Wealth LLC purchased a new position in shares of Energy Transfer during the 4th quarter worth approximately $29,000. Finally, United Community Bank acquired a new position in shares of Energy Transfer during the 4th quarter worth approximately $35,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Stock Performance

The stock has a fifty day moving average price of $19.52 and a two-hundred day moving average price of $18.33. The company has a market capitalization of $64.96 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 0.64 and a beta of 1.72. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. As a group, analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 6.87%. The ex-dividend date was Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is 101.56%.

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.