Energy Transfer (NYSE:ET) Hits New 12-Month High at $16.44

Shares of Energy Transfer LP (NYSE:ET) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $16.44 and last traded at $16.43, with a volume of 1248755 shares. The stock had previously closed at $16.36.

Analysts Set New Price Targets

A number of research firms have issued reports on ET. JPMorgan Chase & Co. increased their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Stifel Nicolaus increased their price target on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Mizuho increased their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Morgan Stanley increased their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. Finally, UBS Group increased their price target 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. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Energy Transfer presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.29.

Energy Transfer Stock Down 0.4 %

The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. The company has a market capitalization of $55.03 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 0.44 and a beta of 1.66. The firm’s 50-day simple moving average is $15.76 and its 200-day simple moving average is $15.06.

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

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were issued a dividend of $0.317 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.76%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, May 10th. Energy Transfer’s dividend payout ratio (DPR) is presently 116.51%.

Hedge Funds Weigh In On Energy Transfer

Several institutional investors have recently added to or reduced their stakes in the company. Rehmann Capital Advisory Group lifted its holdings in Energy Transfer by 2.0% during the 1st quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock valued at $505,000 after purchasing an additional 633 shares during the last quarter. Sfmg LLC lifted its holdings in Energy Transfer by 2.2% during 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 last quarter. FinTrust Capital Advisors LLC lifted its holdings in Energy Transfer by 3.6% during the 1st quarter. FinTrust Capital Advisors LLC now owns 20,201 shares of the pipeline company’s stock valued at $318,000 after purchasing an additional 700 shares during the last quarter. Essex Financial Services Inc. lifted its holdings 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 valued at $528,000 after purchasing an additional 708 shares during the last quarter. Finally, Veracity Capital LLC lifted its holdings in Energy Transfer by 2.2% during the 1st quarter. Veracity Capital LLC now owns 32,916 shares of the pipeline company’s stock valued at $518,000 after purchasing an additional 713 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

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.