Energy Transfer (NYSE:ET) Shares Up 2.8% – Here’s Why

Energy Transfer LP (NYSE:ET) was up 2.8% during trading on Friday . The stock traded as high as $18.69 and last traded at $18.69. Approximately 3,363,337 shares traded hands during trading, a decline of 81% from the average daily volume of 17,715,738 shares. The stock had previously closed at $18.17.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ET shares. Royal Bank of Canada lifted their price objective 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. Barclays lifted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. The Goldman Sachs Group lifted their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Finally, Stifel Nicolaus lifted their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.55.

Energy Transfer Price Performance

The stock has a market capitalization of $64.04 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The stock’s 50 day moving average price is $19.67 and its 200-day moving average price is $18.14.

Energy Transfer (NYSE:ET) last issued its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. As a group, equities analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were paid a $0.325 dividend. The ex-dividend date was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a yield of 6.96%. Energy Transfer’s dividend payout ratio is 101.56%.

Institutional Trading of Energy Transfer

Hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC lifted its stake in Energy Transfer by 15.0% in the third quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock worth $5,567,000 after acquiring an additional 45,172 shares during the period. Watts Gwilliam & Co. LLC purchased a new stake in Energy Transfer in the fourth quarter worth about $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in Energy Transfer by 4.0% in the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock worth $148,621,000 after acquiring an additional 293,088 shares during the period. Forvis Mazars Wealth Advisors LLC lifted its stake in Energy Transfer by 164.1% in the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company’s stock worth $1,186,000 after acquiring an additional 37,633 shares during the period. Finally, Kingsview Wealth Management LLC lifted its stake in Energy Transfer by 30.9% in the third quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock worth $3,885,000 after acquiring an additional 57,184 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

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.