Energy Transfer (NYSE:ET) Stock Price Up 0.4% – Time to Buy?

Shares of Energy Transfer LP (NYSE:ET) were up 0.4% during mid-day trading on Thursday . The stock traded as high as $19.38 and last traded at $19.25. Approximately 2,412,346 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 13,650,163 shares. The stock had previously closed at $19.18.

Analyst Upgrades and Downgrades

ET has been the subject of a number of analyst reports. UBS Group boosted their price target on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Royal Bank of Canada boosted their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Bank of America initiated coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $20.38.

Energy Transfer Stock Down 0.8 %

The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The company has a market capitalization of $65.23 billion, a PE ratio of 14.01, a P/E/G ratio of 0.63 and a beta of 1.70. The business’s 50 day simple moving average is $17.58 and its 200 day simple moving average is $16.53.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.31 EPS. As a group, analysts anticipate that Energy Transfer LP will post 1.32 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a $0.3225 dividend. This represents a $1.29 annualized dividend and a dividend yield of 6.77%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ET. Princeton Global Asset Management LLC grew its stake in shares of Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after buying an additional 650 shares in the last quarter. Assetmark Inc. boosted its holdings in Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 1,668 shares during the period. HWG Holdings LP acquired a new position in Energy Transfer in the 2nd quarter valued at about $33,000. Continuum Advisory LLC increased its stake in Energy Transfer by 44.8% during the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 729 shares during the period. Finally, Sugarloaf Wealth Management LLC lifted its position in shares of Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 750 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Company Profile

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.