Energy Transfer (NYSE:ET) Trading Up 2.6% – What’s Next?

Shares of Energy Transfer LP (NYSE:ET) rose 2.6% on Friday . The company traded as high as $19.99 and last traded at $19.92. Approximately 6,530,958 shares traded hands during trading, a decline of 52% from the average daily volume of 13,675,876 shares. The stock had previously closed at $19.42.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. UBS Group upped their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Bank of America started 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. Finally, Royal Bank of Canada raised their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Price Performance

The company has a 50-day moving average of $16.99 and a 200-day moving average of $16.30. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The stock has a market cap of $68.00 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 0.62 and a beta of 1.66.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 earnings per share. As a group, equities research analysts predict that Energy Transfer LP will post 1.34 earnings per share for the current year.

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.50%. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

Institutional Trading of Energy Transfer

Hedge funds have recently modified their holdings of the business. Peapack Gladstone Financial Corp raised its position in Energy Transfer by 6.8% in the third quarter. Peapack Gladstone Financial Corp now owns 15,675 shares of the pipeline company’s stock worth $251,000 after acquiring an additional 1,000 shares in the last quarter. Synovus Financial Corp lifted its stake in shares of Energy Transfer by 69.8% in the third quarter. Synovus Financial Corp now owns 84,530 shares of the pipeline company’s stock valued at $1,357,000 after purchasing an additional 34,749 shares during the period. Tidal Investments LLC boosted its holdings in Energy Transfer by 1.2% during the third quarter. Tidal Investments LLC now owns 101,738 shares of the pipeline company’s stock worth $1,633,000 after buying an additional 1,248 shares in the last quarter. Wilmington Savings Fund Society FSB grew its position in Energy Transfer by 1,265.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 231,398 shares of the pipeline company’s stock worth $3,714,000 after buying an additional 214,446 shares during the period. Finally, World Investment Advisors LLC lifted its position in shares of Energy Transfer by 4.6% during the 3rd quarter. World Investment Advisors LLC now owns 78,806 shares of the pipeline company’s stock valued at $1,265,000 after acquiring an additional 3,485 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

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.