Energy Transfer (NYSE:ET) Trading 3.4% Higher – Here’s Why

Energy Transfer LP (NYSE:ET) shares were up 3.4% during trading on Tuesday . The company traded as high as $18.01 and last traded at $17.85. Approximately 8,105,473 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 18,042,219 shares. The stock had previously closed at $17.26.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. 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. Wells Fargo & Company increased their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Citigroup lifted their target price on Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Stifel Nicolaus increased their price target on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, Royal Bank of Canada boosted their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.55.

Energy Transfer Stock Performance

The stock has a market capitalization of $61.18 billion, a P/E ratio of 13.93, a PEG ratio of 0.64 and a beta of 1.72. The company’s fifty day simple moving average is $19.76 and its two-hundred day simple moving average is $18.13. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12.

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

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a dividend of $0.325 per share. The ex-dividend date was Friday, February 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a dividend yield of 7.29%. Energy Transfer’s dividend payout ratio (DPR) is currently 101.56%.

Institutional Investors Weigh In On Energy Transfer

Several institutional investors have recently made changes to their positions in the stock. FMR LLC raised its holdings in Energy Transfer by 15.7% in the 4th quarter. FMR LLC now owns 38,634,018 shares of the pipeline company’s stock valued at $756,840,000 after acquiring an additional 5,254,721 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its stake in Energy Transfer by 7.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company’s stock valued at $469,920,000 after purchasing an additional 1,723,683 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Energy Transfer by 5.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,776,221 shares of the pipeline company’s stock worth $387,416,000 after purchasing an additional 1,093,381 shares during the period. Westwood Holdings Group Inc. grew its stake in Energy Transfer by 18.2% during the fourth quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company’s stock worth $319,929,000 after buying an additional 2,512,060 shares in the last quarter. Finally, Chickasaw Capital Management LLC increased its holdings in Energy Transfer by 2.5% in the 4th quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock valued at $308,319,000 after buying an additional 388,073 shares during the period. 38.22% of the stock is currently owned by 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.