Energy Transfer (NYSE:ET) Stock Price Up 0.2% – Here’s Why

Energy Transfer LP (NYSE:ET)’s share price was up 0.2% during trading on Thursday . The company traded as high as $19.02 and last traded at $18.96. Approximately 2,498,615 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 16,494,176 shares. The stock had previously closed at $18.93.

Analyst Upgrades and Downgrades

ET has been the subject of several recent analyst reports. Morgan Stanley increased their target price on Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday. Royal Bank of Canada restated an “outperform” rating and set a $23.00 price objective on shares of Energy Transfer in a report on Tuesday. Wells Fargo & Company upped their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Barclays lifted their target price on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Stifel Nicolaus raised their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.09.

Energy Transfer Stock Performance

The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $64.22 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 0.64 and a beta of 1.72. The stock has a fifty day moving average price of $19.46 and a 200-day moving average price of $18.36.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) 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, analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a $0.325 dividend. The ex-dividend date of this dividend was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a yield of 6.95%. Energy Transfer’s payout ratio is 101.56%.

Institutional Trading of Energy Transfer

Hedge funds have recently modified their holdings of the company. Mountain Hill Investment Partners Corp. bought a new stake in Energy Transfer during the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC acquired a new position in Energy Transfer in the fourth quarter worth $26,000. GAMMA Investing LLC bought a new stake in shares of Energy Transfer during the fourth quarter worth $29,000. Fourth Dimension Wealth LLC bought a new stake in shares of Energy Transfer during the fourth quarter worth $29,000. Finally, United Community Bank bought a new position in shares of Energy Transfer in the fourth quarter valued at about $35,000. 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.