Energy Transfer (NYSE:ET) Trading Up 0.8%

Energy Transfer LP (NYSE:ET)’s share price was up 0.8% during trading on Wednesday . The stock traded as high as $16.30 and last traded at $16.25. Approximately 2,052,172 shares were traded during trading, a decline of 82% from the average daily volume of 11,716,413 shares. The stock had previously closed at $16.12.

Wall Street Analyst Weigh In

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

Energy Transfer Trading Up 0.1 %

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 business has a 50-day moving average of $15.81 and a 200-day moving average of $15.16. The firm has a market cap of $54.93 billion, a price-to-earnings ratio of 14.95, a P/E/G ratio of 0.44 and a beta of 1.66.

Energy Transfer (NYSE:ET) last released its earnings results 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). The company had revenue of $21.63 billion during the quarter, compared to analyst estimates of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. Energy Transfer’s revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 EPS. Research analysts anticipate that Energy Transfer LP will post 1.45 EPS for the current 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 issued a dividend of $0.317 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.78%. The ex-dividend date of this dividend was Friday, May 10th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 116.51%.

Institutional Investors Weigh In On Energy Transfer

A number of institutional investors have recently made changes to their positions in the company. UBS Group AG boosted its holdings in shares of Energy Transfer by 13.3% during the fourth quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company’s stock worth $395,270,000 after acquiring an additional 3,368,427 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Energy Transfer by 38.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock worth $353,576,000 after acquiring an additional 7,097,074 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of Energy Transfer by 18.5% during the fourth quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock worth $350,845,000 after acquiring an additional 3,976,676 shares during the period. First Reserve GP XIII Ltd bought a new stake in shares of Energy Transfer during the fourth quarter worth approximately $322,097,000. Finally, Natixis raised its position in shares of Energy Transfer by 20.0% in the first quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock valued at $283,463,000 after buying an additional 2,999,300 shares in the last quarter. Institutional investors 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.