Energy Transfer (NYSE:ET) Stock Price Up 0.1% – What’s Next?

Energy Transfer LP (NYSE:ET) shares rose 0.1% during mid-day trading on Monday . The company traded as high as $19.35 and last traded at $19.08. Approximately 6,024,627 shares traded hands during trading, a decline of 56% from the average daily volume of 13,613,294 shares. The stock had previously closed at $19.07.

Wall Street Analysts Forecast Growth

ET has been the subject of a number of analyst reports. UBS Group boosted their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Royal Bank of Canada boosted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Bank of America started coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $20.00.

Energy Transfer Stock Performance

The company has a market capitalization of $66.42 billion, a P/E ratio of 14.35, a P/E/G ratio of 0.61 and a beta of 1.66. The stock’s 50-day moving average price is $16.78 and its 200-day moving average price is $16.22. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40.

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, meeting the consensus estimate of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. Energy Transfer’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the firm posted $0.31 EPS. As a group, equities analysts expect that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 6.65%. Energy Transfer’s payout ratio is 94.85%.

Hedge Funds Weigh In On Energy Transfer

Large investors have recently bought and sold shares of the stock. Peapack Gladstone Financial Corp grew its stake in shares of Energy Transfer by 6.8% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 15,675 shares of the pipeline company’s stock worth $251,000 after purchasing an additional 1,000 shares during the last quarter. Synovus Financial Corp increased its position in shares of Energy Transfer by 69.8% in the third quarter. Synovus Financial Corp now owns 84,530 shares of the pipeline company’s stock worth $1,357,000 after acquiring an additional 34,749 shares in the last quarter. Tidal Investments LLC increased its position in shares of Energy Transfer by 1.2% in the third quarter. Tidal Investments LLC now owns 101,738 shares of the pipeline company’s stock worth $1,633,000 after acquiring an additional 1,248 shares in the last quarter. Wilmington Savings Fund Society FSB increased its position in shares of Energy Transfer by 1,265.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 231,398 shares of the pipeline company’s stock worth $3,714,000 after acquiring an additional 214,446 shares in the last quarter. Finally, World Investment Advisors LLC increased its position in shares of Energy Transfer by 4.6% in the third quarter. World Investment Advisors LLC now owns 78,806 shares of the pipeline company’s stock worth $1,265,000 after acquiring an additional 3,485 shares in the last quarter. 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.