Energy Transfer (NYSE:ET) Stock Price Up 0.3%

Energy Transfer LP (NYSE:ET) traded up 0.3% on Thursday . The company traded as high as $16.00 and last traded at $15.97. 1,256,783 shares were traded during mid-day trading, a decline of 89% from the average session volume of 11,852,419 shares. The stock had previously closed at $15.92.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ET. Mizuho raised their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. UBS Group raised their price objective on shares of Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Stifel Nicolaus boosted their price target on Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Morgan Stanley raised their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Finally, JPMorgan Chase & Co. boosted their price target on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Energy Transfer presently has a consensus rating of “Moderate Buy” and an average price target of $19.29.

Energy Transfer Stock Up 1.3 %

The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00. The firm has a 50-day moving average of $15.73 and a 200 day moving average of $15.00. The stock has a market capitalization of $54.71 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 0.44 and a beta of 1.63.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The company had revenue of $21.63 billion for the quarter, compared to the consensus estimate of $20.91 billion. During the same quarter in the prior year, the company earned $0.32 EPS. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.45 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were given a $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.81%. The ex-dividend date was Friday, May 10th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is 116.51%.

Hedge Funds Weigh In On Energy Transfer

A number of institutional investors have recently bought and sold shares of ET. Rehmann Capital Advisory Group lifted its position in Energy Transfer by 2.0% during the first quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock worth $505,000 after acquiring an additional 633 shares during the last quarter. Sfmg LLC boosted its holdings in Energy Transfer by 2.2% in the 1st quarter. Sfmg LLC now owns 31,406 shares of the pipeline company’s stock valued at $494,000 after purchasing an additional 674 shares during the period. FinTrust Capital Advisors LLC grew its position in Energy Transfer by 3.6% during the first quarter. FinTrust Capital Advisors LLC now owns 20,201 shares of the pipeline company’s stock worth $318,000 after buying an additional 700 shares in the last quarter. Essex Financial Services Inc. increased its stake in Energy Transfer by 2.2% during the 1st quarter. Essex Financial Services Inc. now owns 33,569 shares of the pipeline company’s stock worth $528,000 after acquiring an additional 708 shares during the period. Finally, Veracity Capital LLC raised its holdings in Energy Transfer by 2.2% in the 1st quarter. Veracity Capital LLC now owns 32,916 shares of the pipeline company’s stock valued at $518,000 after acquiring an additional 713 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

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.