Energy Transfer (NYSE:ET) Price Target Raised to $26.00

Energy Transfer (NYSE:ET) had its price target boosted by Morgan Stanley from $20.00 to $26.00 in a research note published on Tuesday,Benzinga reports. They currently have an overweight rating on the pipeline company’s stock.

Several other research firms have also commented on ET. Royal Bank of Canada boosted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Barclays boosted 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. The Goldman Sachs Group increased their target price on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Stifel Nicolaus boosted their price target on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, UBS Group restated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. One equities research 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.09.

Energy Transfer Stock Performance

Energy Transfer stock opened at $18.90 on Tuesday. Energy Transfer has a fifty-two week low of $14.90 and a fifty-two week high of $21.45. The company has a market capitalization of $64.86 billion, a PE ratio of 14.77, a P/E/G ratio of 0.64 and a beta of 1.72. The company has a 50 day moving average price of $19.49 and a 200-day moving average price of $18.34. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12.

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

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a dividend of $0.325 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 6.88%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is 101.56%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ET. Thrivent Financial for Lutherans raised its stake in Energy Transfer by 57.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 21,671 shares of the pipeline company’s stock worth $348,000 after acquiring an additional 7,870 shares during the last quarter. Cerity Partners LLC boosted its holdings in Energy Transfer by 29.1% in the third quarter. Cerity Partners LLC now owns 242,531 shares of the pipeline company’s stock valued at $3,893,000 after purchasing an additional 54,611 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in Energy Transfer by 111.9% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 67,401 shares of the pipeline company’s stock worth $1,082,000 after purchasing an additional 35,595 shares during the period. Private Trust Co. NA raised its stake in shares of Energy Transfer by 19.7% during the 3rd quarter. Private Trust Co. NA now owns 24,213 shares of the pipeline company’s stock valued at $389,000 after buying an additional 3,983 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after buying an additional 10,195,768 shares during the period. Hedge funds and other 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.