Stifel Nicolaus Issues Positive Forecast for Energy Transfer (NYSE:ET) Stock Price

Energy Transfer (NYSE:ET) had its price target raised by Stifel Nicolaus from $21.00 to $23.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the pipeline company’s stock.

Other equities research analysts have also issued reports about the stock. Royal Bank of Canada lifted their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company lifted 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. The Goldman Sachs Group lifted their price target 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. Barclays lifted their price target 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. Finally, Bank of America began coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.18.

Energy Transfer Stock Performance

NYSE ET opened at $19.98 on Wednesday. The company has a market capitalization of $68.42 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 0.52 and a beta of 1.69. 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 company has a 50-day simple moving average of $19.76 and a 200 day simple moving average of $17.74. Energy Transfer has a 52-week low of $14.09 and a 52-week high of $21.45.

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 5.90% and a return on equity of 12.38%. On average, research analysts predict that Energy Transfer will post 1.37 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be given a dividend of $0.325 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a yield of 6.51%. The ex-dividend date of this dividend is Friday, February 7th. Energy Transfer’s payout ratio is presently 94.85%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC increased its position in Energy Transfer by 15.0% during the 3rd quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock valued at $5,567,000 after purchasing an additional 45,172 shares during the period. Watts Gwilliam & Co. LLC purchased a new position in Energy Transfer during the 4th quarter valued at $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its position in Energy Transfer by 4.0% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock valued at $148,621,000 after purchasing an additional 293,088 shares during the period. Kingsview Wealth Management LLC boosted its holdings in shares of Energy Transfer by 30.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock valued at $3,885,000 after buying an additional 57,184 shares in the last quarter. Finally, Paragon Capital Management Ltd boosted its holdings in shares of Energy Transfer by 435.5% during the 4th quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock valued at $1,346,000 after buying an additional 55,890 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

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.