Energy Transfer (NYSE:ET) Stock Price Up 0.1% – Should You Buy?

Energy Transfer LP (NYSE:ET)’s stock price shot up 0.1% during mid-day trading on Wednesday . The company traded as high as $19.78 and last traded at $19.59. 8,814,011 shares traded hands during trading, a decline of 35% from the average session volume of 13,659,068 shares. The stock had previously closed at $19.57.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group increased their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Barclays raised their price objective on shares of Energy Transfer from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Royal Bank of Canada upped their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Wells Fargo & Company raised their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, UBS Group upped their price objective on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.55.

Energy Transfer Stock Performance

The company has a market cap of $67.49 billion, a PE ratio of 14.49, a PEG ratio of 0.63 and a beta of 1.70. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The business has a 50-day moving average of $18.35 and a 200 day moving average of $16.89.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. During the same quarter in the prior year, the business earned $0.31 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. Equities research analysts anticipate that Energy Transfer LP will post 1.32 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.54%. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ET. Princeton Global Asset Management LLC raised its position in shares of Energy Transfer by 65.0% during the 3rd 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. Assetmark Inc. raised its holdings in 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 acquiring an additional 1,668 shares during the period. HWG Holdings LP purchased a new position in shares of Energy Transfer in the second quarter valued at about $33,000. Continuum Advisory LLC boosted its stake in shares of Energy Transfer by 44.8% in the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 729 shares during the period. Finally, Sugarloaf Wealth Management LLC grew its position in shares of Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 750 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

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.