Energy Transfer (NYSE:ET) Trading Up 0.1% – Here’s Why

Shares of Energy Transfer LP (NYSE:ET) were up 0.1% during mid-day trading on Friday . The company traded as high as $21.24 and last traded at $21.09. Approximately 2,944,132 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 14,753,303 shares. The stock had previously closed at $21.06.

Analyst Ratings Changes

ET has been the topic of a number of research reports. The Goldman Sachs Group raised their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Barclays raised their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Royal Bank of Canada raised their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Bank of America started coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. Finally, Wells Fargo & Company raised their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $20.82.

Energy Transfer Stock Performance

The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The firm has a market cap of $72.19 billion, a P/E ratio of 15.50, a P/E/G ratio of 0.55 and a beta of 1.70. The business’s 50-day simple moving average is $19.31 and its 200 day simple moving average is $17.31.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates 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 the consensus estimate of $21.59 billion. During the same quarter in the previous year, the firm posted $0.31 EPS. The firm’s revenue was up .2% on a year-over-year basis. As a group, equities analysts predict 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. Stockholders of record on Friday, November 8th were given a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.12%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s payout ratio is 94.85%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ET. FMR LLC lifted its stake in Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after purchasing an additional 10,195,768 shares in the last quarter. Chickasaw Capital Management LLC lifted its stake in Energy Transfer by 2.5% in the 4th quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock worth $308,319,000 after purchasing an additional 388,073 shares in the last quarter. Brookfield Corp ON lifted its stake in Energy Transfer by 2.8% in the 3rd quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock worth $210,896,000 after purchasing an additional 352,625 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Energy Transfer by 36.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after purchasing an additional 3,106,631 shares in the last quarter. Finally, Citigroup Inc. lifted its stake in Energy Transfer by 45.9% in the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after purchasing an additional 3,013,973 shares in 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.