Energy Transfer (NYSE:ET) Reaches New 12-Month High – Still a Buy?

Energy Transfer LP (NYSE:ET) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $20.48 and last traded at $20.46, with a volume of 114938 shares trading hands. The stock had previously closed at $20.29.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Wells Fargo & Company boosted 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. Royal Bank of Canada boosted their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Barclays boosted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. The Goldman Sachs Group boosted their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Finally, Bank of America assumed 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. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and an average target price of $20.82.

Energy Transfer Trading Up 0.1 %

The firm’s 50 day moving average price is $19.16 and its 200-day moving average price is $17.26. The stock has a market cap of $71.68 billion, a P/E ratio of 15.39, a P/E/G ratio of 0.55 and a beta of 1.70. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. The firm had revenue of $20.77 billion for 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 was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 earnings per share. As a group, equities research analysts forecast that Energy Transfer LP will post 1.37 earnings per share for the current year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were given a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 6.16%. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gateway Wealth Partners LLC lifted its position in Energy Transfer by 75.1% during the fourth quarter. Gateway Wealth Partners LLC now owns 23,139 shares of the pipeline company’s stock valued at $453,000 after purchasing an additional 9,922 shares during the period. Stonegate Investment Group LLC increased its holdings in Energy Transfer by 1.4% during the fourth quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock valued at $672,000 after buying an additional 482 shares during the last quarter. Joseph P. Lucia & Associates LLC increased its holdings in Energy Transfer by 26.0% during the fourth quarter. Joseph P. Lucia & Associates LLC now owns 66,370 shares of the pipeline company’s stock valued at $1,300,000 after buying an additional 13,693 shares during the last quarter. Mattern Wealth Management LLC increased its holdings in Energy Transfer by 8.6% during the fourth quarter. Mattern Wealth Management LLC now owns 43,088 shares of the pipeline company’s stock valued at $844,000 after buying an additional 3,400 shares during the last quarter. Finally, FSC Wealth Advisors LLC increased its holdings in Energy Transfer by 63.2% during the fourth quarter. FSC Wealth Advisors LLC now owns 2,582 shares of the pipeline company’s stock valued at $51,000 after buying an additional 1,000 shares during the last quarter. 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.