Energy Transfer (NYSE:ET) Reaches New 12-Month High – Still a Buy?

Shares of Energy Transfer LP (NYSE:ET) hit a new 52-week high during trading on Tuesday . The company traded as high as $20.48 and last traded at $20.46, with a volume of 114938 shares changing hands. The stock had previously closed at $20.29.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ET. Wells Fargo & Company upped their target price on shares of 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 objective on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Royal Bank of Canada increased their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Barclays increased their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, Bank of America began coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective for the company. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $20.82.

Energy Transfer Stock Up 0.1 %

The company has a market capitalization of $71.68 billion, a PE ratio of 15.39, a PEG ratio of 0.55 and a beta of 1.70. The company’s 50 day moving average is $19.16 and its two-hundred day moving average is $17.26. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. During the same quarter last year, the business earned $0.31 earnings per share. Energy Transfer’s quarterly revenue was up .2% compared to the same quarter last year. On average, analysts anticipate that Energy Transfer LP will post 1.37 earnings per share for the current year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 6.16%. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%.

Hedge Funds Weigh In On Energy Transfer

Institutional investors have recently bought and sold shares of the business. Princeton Global Asset Management LLC lifted its position in 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 valued at $26,000 after purchasing an additional 650 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 1,668 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Energy Transfer in the 4th quarter worth about $29,000. HWG Holdings LP bought a new stake in shares of Energy Transfer in the 2nd quarter worth about $33,000. Finally, Sugarloaf Wealth Management LLC lifted its holdings in shares of Energy Transfer by 43.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 750 shares during the last quarter. 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.