Energy Transfer (NYSE:ET) Shares Up 2.8% – Here’s What Happened

Shares of Energy Transfer LP (NYSE:ET) were up 2.8% during trading on Friday . The stock traded as high as $18.69 and last traded at $18.69. Approximately 3,363,337 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 17,715,738 shares. The stock had previously closed at $18.17.

Analyst Ratings Changes

Several analysts recently commented on ET shares. The Goldman Sachs Group boosted their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Barclays boosted their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Citigroup boosted their price objective on Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Wells Fargo & Company boosted their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, UBS Group reissued a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.55.

Energy Transfer Stock Up 3.0 %

The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The firm has a market cap of $64.22 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. The firm has a 50 day moving average price of $19.65 and a 200-day moving average price of $18.17.

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

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 6.95%. The ex-dividend date of this dividend was Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 101.56%.

Institutional Investors Weigh In On Energy Transfer

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ET. Mountain Hill Investment Partners Corp. bought a new stake in Energy Transfer in the fourth quarter valued at about $25,000. Capital A Wealth Management LLC bought a new stake in shares of Energy Transfer in the fourth quarter worth about $26,000. Assetmark Inc. increased its holdings in shares of Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 1,668 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Energy Transfer in the fourth quarter worth about $29,000. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Energy Transfer in the fourth quarter worth about $29,000. Institutional investors own 38.22% of the company’s stock.

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.