Energy Transfer (NYSE:ET) Stock Price Up 1% – Time to Buy?

Energy Transfer LP (NYSE:ET) rose 1% on Friday . The stock traded as high as $19.95 and last traded at $20.03. Approximately 2,762,272 shares changed hands during trading, a decline of 84% from the average daily volume of 16,818,891 shares. The stock had previously closed at $19.82.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday. The Goldman Sachs Group boosted their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Wells Fargo & Company raised their price target on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Barclays upped their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, Royal Bank of Canada increased their price objective on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Energy Transfer presently has a consensus rating of “Moderate Buy” and an average target price of $21.18.

Energy Transfer Stock Performance

The stock’s 50-day moving average price is $19.78 and its 200-day moving average price is $17.76. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $68.42 billion, a P/E ratio of 14.69, a P/E/G ratio of 0.52 and a beta of 1.69.

Energy Transfer (NYSE:ET) last issued its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. As a group, equities analysts expect that Energy Transfer LP will post 1.37 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be given a $0.325 dividend. The ex-dividend date of this dividend is Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a yield of 6.51%. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%.

Hedge Funds Weigh In On Energy Transfer

Several hedge funds and other institutional investors have recently modified their holdings of ET. FMR LLC increased its holdings in shares of Energy Transfer by 15.7% during the fourth quarter. FMR LLC now owns 38,634,018 shares of the pipeline company’s stock valued at $756,840,000 after purchasing an additional 5,254,721 shares during the period. Kayne Anderson Capital Advisors LP grew its position in Energy Transfer by 7.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company’s stock valued at $469,920,000 after buying an additional 1,723,683 shares in the last quarter. Chickasaw Capital Management LLC increased its stake in Energy Transfer by 2.5% during the 4th quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock valued at $308,319,000 after buying an additional 388,073 shares during the period. Natixis raised its position in shares of Energy Transfer by 7.1% during the 4th quarter. Natixis now owns 14,619,124 shares of the pipeline company’s stock worth $286,389,000 after buying an additional 962,800 shares in the last quarter. Finally, Brookfield Corp ON lifted its stake in shares of Energy Transfer by 2.8% in the 3rd quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock worth $210,896,000 after acquiring an additional 352,625 shares during the period. 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.