Energy Transfer (NYSE:ET) Trading Up 1.2% – Time to Buy?

Energy Transfer LP (NYSE:ET) traded up 1.2% on Wednesday . The stock traded as high as $20.65 and last traded at $20.59. 2,825,381 shares changed hands during trading, a decline of 84% from the average session volume of 17,253,789 shares. The stock had previously closed at $20.35.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. The Goldman Sachs Group raised their price objective on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Bank of America assumed coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. Royal Bank of Canada raised their target price on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, Barclays lifted their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.82.

Energy Transfer Trading Down 1.4 %

The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The stock’s fifty day moving average price is $19.57 and its two-hundred day moving average price is $17.46. The company has a market capitalization of $71.13 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 0.54 and a beta of 1.70.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. During the same period in the prior year, the business posted $0.31 earnings per share. Energy Transfer’s revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts anticipate that Energy Transfer LP will post 1.36 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be given a dividend of $0.325 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 6.26%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

Institutional Investors Weigh In On Energy Transfer

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Stonegate Investment Group LLC boosted its holdings in Energy Transfer by 1.4% in the 4th quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock worth $672,000 after buying an additional 482 shares during the period. Private Client Services LLC boosted its holdings 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 worth $331,000 after buying an additional 511 shares during the period. Daymark Wealth Partners LLC boosted its holdings in Energy Transfer by 0.3% in the 4th quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock worth $3,148,000 after buying an additional 547 shares during the period. Platform Technology Partners boosted its holdings in Energy Transfer by 0.8% in the 4th quarter. Platform Technology Partners now owns 67,299 shares of the pipeline company’s stock worth $1,318,000 after buying an additional 553 shares during the period. Finally, Marcum Wealth LLC boosted its holdings in Energy Transfer by 4.6% in the 4th quarter. Marcum Wealth LLC now owns 12,847 shares of the pipeline company’s stock worth $252,000 after buying an additional 561 shares during the period. Hedge funds and other 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.