Energy Transfer (NYSE:ET) Price Target Raised to $20.00 at Morgan Stanley

Energy Transfer (NYSE:ETFree Report) had its price objective lifted by Morgan Stanley from $19.00 to $20.00 in a research report released on Monday, Benzinga reports. They currently have an overweight rating on the pipeline company’s stock.

ET has been the subject of a number of other research reports. UBS Group upped their price target on Energy Transfer from $23.00 to $24.00 and gave the stock a buy rating in a research report on Wednesday, May 15th. Citigroup raised their target price on shares of Energy Transfer from $17.00 to $18.00 and gave the company a buy rating in a research note on Wednesday, February 21st. Mizuho reissued a buy rating and issued a $19.00 target price (up from $18.00) on shares of Energy Transfer in a research note on Thursday, April 18th. 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $18.86.

View Our Latest Research Report on ET

Energy Transfer Price Performance

Shares of ET opened at $15.70 on Monday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. The stock has a 50 day simple moving average of $15.72 and a 200 day simple moving average of $14.82. Energy Transfer has a 52-week low of $12.46 and a 52-week high of $16.40. The firm has a market capitalization of $52.91 billion, a PE ratio of 14.40, a P/E/G ratio of 0.42 and a beta of 1.63.

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

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Stockholders 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 represents a $1.27 dividend on an annualized basis and a dividend yield of 8.08%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is currently 116.51%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Mutual Advisors LLC increased its position in shares of Energy Transfer by 112.9% in the fourth quarter. Mutual Advisors LLC now owns 146,943 shares of the pipeline company’s stock worth $2,028,000 after purchasing an additional 77,938 shares during the period. US Bancorp DE grew its position in Energy Transfer by 95.8% in the fourth quarter. US Bancorp DE now owns 145,894 shares of the pipeline company’s stock valued at $2,013,000 after acquiring an additional 71,386 shares during the last quarter. Savant Capital LLC grew its position in Energy Transfer by 19.7% in the fourth quarter. Savant Capital LLC now owns 26,335 shares of the pipeline company’s stock valued at $363,000 after acquiring an additional 4,340 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Energy Transfer by 230.9% in the third quarter. Envestnet Asset Management Inc. now owns 736,634 shares of the pipeline company’s stock valued at $10,335,000 after acquiring an additional 513,989 shares during the last quarter. Finally, Arkadios Wealth Advisors grew its position in Energy Transfer by 3.3% in the fourth quarter. Arkadios Wealth Advisors now owns 28,250 shares of the pipeline company’s stock valued at $390,000 after acquiring an additional 903 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

About Energy Transfer

(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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