Energy Transfer (NYSE:ET) Shares Up 0.9% – Here’s What Happened

Energy Transfer LP (NYSE:ET)’s share price was up 0.9% during trading on Monday . The company traded as high as $20.76 and last traded at $20.67. Approximately 4,563,595 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 17,386,166 shares. The stock had previously closed at $20.48.

Analyst Ratings Changes

Several equities research analysts have weighed in on ET shares. Royal Bank of Canada increased 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. Bank of America began coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective on the stock. Wells Fargo & Company upped their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Barclays lifted 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. Finally, The Goldman Sachs Group increased 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. One equities 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.82.

Energy Transfer Stock Up 1.5 %

The firm has a market cap of $71.18 billion, a P/E ratio of 15.33, a P/E/G ratio of 0.54 and a beta of 1.69. The business’s fifty day moving average price is $19.59 and its two-hundred day moving average price is $17.51. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. The business had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period last year, the business earned $0.31 EPS. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.36 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be issued a $0.325 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a yield of 6.25%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

Institutional Trading of Energy Transfer

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its stake in Energy Transfer by 44.0% during the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after buying an additional 10,195,768 shares in the last quarter. Chickasaw Capital Management LLC boosted its position in shares of Energy Transfer by 2.5% during the 4th quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock valued at $308,319,000 after acquiring an additional 388,073 shares in the last quarter. Brookfield Corp ON increased its stake in Energy Transfer by 2.8% in the third quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock valued at $210,896,000 after acquiring an additional 352,625 shares during the period. BNP Paribas Financial Markets raised its position in Energy Transfer by 36.7% in the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after purchasing an additional 3,106,631 shares in the last quarter. Finally, Citigroup Inc. boosted its holdings in Energy Transfer by 45.9% during the third quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock valued at $153,787,000 after purchasing an additional 3,013,973 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

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.