Energy Transfer (NYSE:ET) Shares Up 2.6% – Here’s What Happened

Energy Transfer LP (NYSE:ET)’s share price was up 2.6% on Friday . The stock traded as high as $19.99 and last traded at $19.92. Approximately 6,530,958 shares changed hands during trading, a decline of 52% from the average daily volume of 13,675,876 shares. The stock had previously closed at $19.42.

Analyst Ratings Changes

Several research analysts have recently weighed in on ET shares. UBS Group boosted their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Royal Bank of Canada boosted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Bank of America started coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Energy Transfer has a consensus rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Stock Up 2.3 %

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 firm has a market cap of $68.00 billion, a P/E ratio of 14.65, a P/E/G ratio of 0.62 and a beta of 1.66. The firm’s fifty day moving average is $16.91 and its 200 day moving average is $16.27.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. The firm had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.31 EPS. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were issued a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a yield of 6.50%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio is currently 94.85%.

Institutional Trading of Energy Transfer

A number of institutional investors have recently bought and sold shares of ET. Tidal Investments LLC increased its position in Energy Transfer by 12.9% during the 1st quarter. Tidal Investments LLC now owns 86,196 shares of the pipeline company’s stock worth $1,342,000 after purchasing an additional 9,849 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Energy Transfer during the first quarter worth $29,000. Sanibel Captiva Trust Company Inc. increased its position in shares of Energy Transfer by 18.5% during the first quarter. Sanibel Captiva Trust Company Inc. now owns 23,875 shares of the pipeline company’s stock worth $376,000 after buying an additional 3,725 shares during the period. Burney Co. increased its position in shares of Energy Transfer by 288.1% during the first quarter. Burney Co. now owns 63,046 shares of the pipeline company’s stock worth $992,000 after buying an additional 46,800 shares during the period. Finally, Cetera Investment Advisers increased its position in shares of Energy Transfer by 491.3% during the first quarter. Cetera Investment Advisers now owns 1,290,364 shares of the pipeline company’s stock worth $20,297,000 after buying an additional 1,072,144 shares during the period. 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.