Energy Transfer (NYSE:ET) Trading Up 1.3% Following Analyst Upgrade

Energy Transfer LP (NYSE:ET) was up 1.3% during mid-day trading on Tuesday after Barclays raised their price target on the stock from $22.00 to $25.00. Barclays currently has an overweight rating on the stock. Energy Transfer traded as high as $19.82 and last traded at $19.72. Approximately 2,793,387 shares were traded during trading, a decline of 79% from the average daily volume of 13,024,881 shares. The stock had previously closed at $19.47.

Several other equities analysts have also recently issued reports on ET. Bank of America initiated coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. The Goldman Sachs Group upped 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 upped their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. UBS Group increased their target price on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Royal Bank of Canada increased their target price on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.82.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. FMR LLC raised its position in shares of Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after buying an additional 10,195,768 shares during the period. International Assets Investment Management LLC raised its position in shares of Energy Transfer by 1,491.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock worth $67,020,000 after buying an additional 3,913,266 shares during the period. BNP Paribas Financial Markets raised its position in shares of Energy Transfer by 36.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after buying an additional 3,106,631 shares during the period. Citigroup Inc. raised its position in shares of Energy Transfer by 45.9% in the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after buying an additional 3,013,973 shares during the period. Finally, Pathway Financial Advisers LLC raised its position in shares of Energy Transfer by 1,837.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,338,885 shares of the pipeline company’s stock worth $21,489,000 after buying an additional 1,269,778 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.6 %

The firm has a 50-day moving average of $18.85 and a two-hundred day moving average of $17.12. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $68.62 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 0.62 and a beta of 1.70.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate 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 last year, the company posted $0.31 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. On average, equities research analysts forecast that Energy Transfer LP will post 1.32 EPS for the current year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a $0.3225 dividend. This represents a $1.29 annualized dividend and a yield of 6.44%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

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.