Energy Transfer (NYSE:ET) Trading 0.8% Higher – Time to Buy?

Energy Transfer LP (NYSE:ET)’s share price rose 0.8% during mid-day trading on Monday . The stock traded as high as $20.09 and last traded at $19.98. Approximately 10,422,402 shares were traded during trading, a decline of 41% from the average daily volume of 17,631,726 shares. The stock had previously closed at $19.82.

Wall Street Analyst Weigh In

ET has been the topic of several recent analyst reports. Stifel Nicolaus lifted their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Barclays lifted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. The Goldman Sachs Group boosted their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Royal Bank of Canada boosted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, Wells Fargo & Company boosted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus target price of $21.18.

Energy Transfer Price Performance

The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The firm’s 50 day simple moving average is $19.83 and its 200 day simple moving average is $17.84. The company has a market capitalization of $68.94 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 0.52 and a beta of 1.69.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.66% and a net margin of 5.74%. As a group, research analysts anticipate that Energy Transfer LP will post 1.47 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be paid a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 6.46%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, February 7th. Energy Transfer’s payout ratio is presently 101.56%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Mountain Hill Investment Partners Corp. purchased a new position in Energy Transfer during the fourth quarter worth $25,000. GAMMA Investing LLC purchased a new stake in shares of Energy Transfer during the fourth quarter valued at $29,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Energy Transfer during the fourth quarter valued at $29,000. Princeton Global Asset Management LLC boosted its stake in shares of Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares during the period. Finally, Assetmark Inc. boosted its stake in shares of Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares during the period. 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.