Energy Transfer (NYSE:ET) Stock Price Up 0.9% – What’s Next?

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada raised their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Barclays lifted their target price on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Bank of America began coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target for the company. The Goldman Sachs Group lifted their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company increased their target price 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. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.82.

Energy Transfer Stock Up 0.1 %

The stock has a market cap of $71.19 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 0.54 and a beta of 1.69. The firm’s fifty day moving average price is $19.66 and its two-hundred day moving average price is $17.57. 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 announced its quarterly 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. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same quarter in the prior year, the company earned $0.31 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. Sell-side analysts forecast that Energy Transfer LP will post 1.36 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.25%. The ex-dividend date of this dividend is Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 95.59%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Princeton Global Asset Management LLC lifted its position in shares of Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares in the last quarter. Assetmark Inc. boosted its position in 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 purchasing an additional 1,668 shares during the last quarter. GAMMA Investing LLC bought a new position in Energy Transfer in the 4th quarter valued at $29,000. Financial Life Planners bought a new stake in shares of Energy Transfer during the 4th quarter worth $37,000. Finally, Citizens National Bank Trust Department purchased a new position in Energy Transfer in the fourth quarter valued at about $39,000. Hedge funds and other 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.