Energy Transfer (NYSE:ET) Trading 1% Higher – Here’s What Happened

Energy Transfer LP (NYSE:ET)’s share price was up 1% during mid-day trading on Friday . The stock traded as high as $19.95 and last traded at $20.03. Approximately 2,762,272 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 16,818,891 shares. The stock had previously closed at $19.82.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Barclays upped their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Royal Bank of Canada upped their target price on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. The Goldman Sachs Group boosted their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Stifel Nicolaus raised their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company upped their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.18.

Energy Transfer Stock Up 0.8 %

The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The business’s 50 day simple moving average is $19.78 and its 200-day simple moving average is $17.76. The company has a market cap of $68.42 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 0.52 and a beta of 1.69.

Energy Transfer (NYSE:ET) last issued its earnings results 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 12.38% and a net margin of 5.90%. Sell-side analysts expect that Energy Transfer LP will post 1.37 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be paid a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.51%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Institutional Trading of Energy Transfer

Several large investors have recently modified their holdings of the company. Mountain Hill Investment Partners Corp. bought a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $25,000. Princeton Global Asset Management LLC lifted its stake in Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 650 shares during the period. Assetmark Inc. grew its stake in shares of Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares during the period. GAMMA Investing LLC bought a new position in shares of Energy Transfer during the 4th quarter worth approximately $29,000. Finally, United Community Bank acquired a new stake in Energy Transfer in the 4th quarter valued at $35,000. 38.22% of the stock is owned by institutional investors.

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.