Energy Transfer (NYSE:ET) Trading 0.5% Higher

Energy Transfer LP (NYSE:ETGet Free Report)’s stock price traded up 0.5% during mid-day trading on Friday . The stock traded as high as $15.54 and last traded at $15.52. 2,981,223 shares were traded during trading, a decline of 75% from the average session volume of 12,055,273 shares. The stock had previously closed at $15.45.

Wall Street Analysts Forecast Growth

ET has been the topic of a number of recent research reports. UBS Group increased their price objective on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Mizuho reiterated a “buy” rating and issued a $19.00 price objective (up from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. Citigroup boosted their price objective on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, Stifel Nicolaus raised their target price on shares of Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Energy Transfer currently has an average rating of “Moderate Buy” and an average target price of $18.43.

Read Our Latest Report on ET

Energy Transfer Trading Up 0.2 %

The company has a market capitalization of $52.17 billion, a P/E ratio of 14.20, a PEG ratio of 0.42 and a beta of 1.63. The business has a 50 day moving average price of $15.72 and a 200 day moving average price of $14.80. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ETGet Free Report) last posted its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.04). Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The firm had revenue of $21.63 billion during the quarter, compared to analyst estimates of $20.91 billion. During the same quarter last year, the business posted $0.32 earnings per share. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. Analysts anticipate that Energy Transfer LP will post 1.45 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were issued a dividend of $0.317 per share. The ex-dividend date of this dividend was Friday, May 10th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a yield of 8.19%. Energy Transfer’s payout ratio is currently 116.51%.

Hedge Funds Weigh In On Energy Transfer

Several institutional investors and hedge funds have recently modified their holdings of ET. First Reserve GP XIII Ltd bought a new position in Energy Transfer in the fourth quarter valued at approximately $322,097,000. Alps Advisors Inc. boosted its stake in Energy Transfer by 14.5% in the 3rd quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock worth $1,033,541,000 after purchasing an additional 9,341,798 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Energy Transfer by 38.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock worth $353,576,000 after purchasing an additional 7,097,074 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of Energy Transfer by 18.5% in the 4th quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock valued at $350,845,000 after purchasing an additional 3,976,676 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of Energy Transfer by 1,447.6% in the fourth quarter. International Assets Investment Management LLC now owns 3,756,955 shares of the pipeline company’s stock valued at $518,460,000 after purchasing an additional 3,514,195 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Company Profile

(Get Free Report)

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.

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