Energy Transfer (NYSE:ET) Price Target Raised to $22.00 at Citigroup

Energy Transfer (NYSE:ET) had its price objective boosted by Citigroup from $20.00 to $22.00 in a research note issued to investors on Tuesday morning, MarketBeat reports. Citigroup currently has a buy rating on the pipeline company’s stock.

Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Company increased their price target on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. The Goldman Sachs Group increased their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Royal Bank of Canada increased their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Barclays raised their target price on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, Stifel Nicolaus raised their target price on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.55.

Energy Transfer Price Performance

NYSE:ET opened at $18.94 on Tuesday. Energy Transfer has a one year low of $14.52 and a one year high of $21.45. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The stock has a market cap of $64.97 billion, a PE ratio of 14.79, a P/E/G ratio of 0.64 and a beta of 1.69. The stock has a 50 day moving average price of $19.88 and a 200 day moving average price of $17.97.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. Equities research analysts expect that Energy Transfer will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a dividend of $0.325 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a dividend yield of 6.87%. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is currently 101.56%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Mountain Hill Investment Partners Corp. purchased a new position in shares of Energy Transfer during the fourth quarter worth $25,000. GAMMA Investing LLC purchased a new position in shares of Energy Transfer during the fourth quarter worth $29,000. Fourth Dimension Wealth LLC purchased a new position in shares of Energy Transfer during the fourth quarter worth $29,000. Princeton Global Asset Management LLC boosted its position in shares of Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares during the period. Finally, Assetmark Inc. boosted its position in shares of Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after buying an additional 1,668 shares during the period. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

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.