Energy Transfer (NYSE:ET) Stock Price Up 0.1%

Energy Transfer LP (NYSE:ET)’s stock price traded up 0.1% during trading on Monday . The stock traded as high as $16.38 and last traded at $16.24. 3,023,374 shares traded hands during trading, a decline of 74% from the average session volume of 11,821,421 shares. The stock had previously closed at $16.22.

Analyst Ratings Changes

A number of research firms have recently issued reports on ET. Stifel Nicolaus upped their target price on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Mizuho increased their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. UBS Group increased their price target on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Finally, Morgan Stanley boosted their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.29.

Energy Transfer Price Performance

The company’s 50-day simple moving average is $15.73 and its 200 day simple moving average is $15.02. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. The company has a market cap of $55.07 billion, a PE ratio of 14.90, a PEG ratio of 0.44 and a beta of 1.66.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The company had revenue of $21.63 billion during the quarter, compared to analysts’ expectations of $20.91 billion. During the same quarter in the previous year, the business posted $0.32 EPS. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. On average, sell-side analysts predict that Energy Transfer LP will post 1.45 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were given a dividend of $0.317 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a dividend yield of 7.76%. The ex-dividend date of this dividend was Friday, May 10th. Energy Transfer’s dividend payout ratio is currently 116.51%.

Institutional Trading of Energy Transfer

Several institutional investors have recently modified their holdings of the stock. Alps Advisors Inc. grew its stake in Energy Transfer by 14.5% during the 3rd quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock worth $1,033,541,000 after buying an additional 9,341,798 shares during the last quarter. UBS Group AG increased its holdings in shares of Energy Transfer by 13.3% in the 4th quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company’s stock valued at $395,270,000 after acquiring an additional 3,368,427 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Energy Transfer by 38.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock valued at $353,576,000 after purchasing an additional 7,097,074 shares during the last quarter. Clearbridge Investments LLC boosted its stake in Energy Transfer by 18.5% during the 4th quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock worth $350,845,000 after purchasing an additional 3,976,676 shares during the period. Finally, First Reserve GP XIII Ltd purchased a new position in Energy Transfer during the 4th quarter worth $322,097,000. 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.