Energy Transfer (NYSE:ET) Trading Up 1.1% – Here’s What Happened

Shares of Energy Transfer LP (NYSE:ET) traded up 1.1% during mid-day trading on Thursday . The stock traded as high as $19.75 and last traded at $19.71. 9,007,061 shares were traded during mid-day trading, a decline of 45% from the average session volume of 16,512,867 shares. The stock had previously closed at $19.49.

Wall Street Analyst Weigh In

ET has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Barclays lifted their price target on shares of Energy Transfer from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Royal Bank of Canada increased their price objective on shares of 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 started coverage on Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. Finally, The Goldman Sachs Group increased their price target 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.55.

Energy Transfer Trading Down 1.5 %

The company has a market cap of $66.56 billion, a P/E ratio of 14.29, a price-to-earnings-growth ratio of 0.62 and a beta of 1.70. 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 firm’s 50-day moving average price is $18.73 and its 200-day moving average price is $17.05.

Energy Transfer (NYSE:ET) last released 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. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same period in the previous year, the company posted $0.31 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities research analysts expect that Energy Transfer LP will post 1.32 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. Investors of record on Friday, November 8th were paid a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a yield of 6.64%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio is 94.85%.

Institutional Investors Weigh In On Energy Transfer

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. HBW Advisory Services LLC boosted its holdings in shares of Energy Transfer by 8.6% in the 4th quarter. HBW Advisory Services LLC now owns 27,658 shares of the pipeline company’s stock worth $542,000 after purchasing an additional 2,180 shares in the last quarter. ORG Wealth Partners LLC raised its stake in shares of Energy Transfer by 6.2% during the fourth quarter. ORG Wealth Partners LLC now owns 365,240 shares of the pipeline company’s stock worth $7,155,000 after acquiring an additional 21,397 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Energy Transfer by 3.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 742,147 shares of the pipeline company’s stock worth $14,539,000 after acquiring an additional 23,324 shares during the last quarter. ORG Partners LLC boosted its stake in shares of Energy Transfer by 2.5% in the 4th quarter. ORG Partners LLC now owns 29,340 shares of the pipeline company’s stock valued at $575,000 after purchasing an additional 715 shares in the last quarter. Finally, Watts Gwilliam & Co. LLC bought a new position in shares of Energy Transfer during the 4th quarter valued at $1,297,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

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.