Energy Transfer (NYSE:ET) Trading Up 0.9% – Here’s What Happened

Energy Transfer LP (NYSE:ET) was up 0.9% on Wednesday . The company traded as high as $18.89 and last traded at $18.85. Approximately 1,376,362 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 14,471,982 shares. The stock had previously closed at $18.68.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ET shares. Wells Fargo & Company lifted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Royal Bank of Canada lifted their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Barclays lifted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Stifel Nicolaus lifted their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, Citigroup lifted their price objective on shares of Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.55.

Energy Transfer Trading Down 0.7 %

The business’s 50 day simple moving average is $19.59 and its two-hundred day simple moving average is $18.24. The stock has a market cap of $64.25 billion, a P/E ratio of 14.66, a PEG ratio of 0.64 and a beta of 1.72. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates 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 expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were paid a $0.325 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 6.94%. Energy Transfer’s payout ratio is currently 101.56%.

Institutional Trading of Energy Transfer

Several institutional investors have recently modified their holdings of the business. Chancellor Financial Group WB LP bought a new stake in shares of Energy Transfer in the fourth quarter worth $303,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Energy Transfer by 6.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 764,632 shares of the pipeline company’s stock worth $14,979,000 after purchasing an additional 45,809 shares during the last quarter. Alpha Wealth Funds LLC bought a new stake in shares of Energy Transfer in the fourth quarter worth $2,143,000. Jefferies Financial Group Inc. lifted its holdings in Energy Transfer by 125.0% in the fourth quarter. Jefferies Financial Group Inc. now owns 469,227 shares of the pipeline company’s stock valued at $9,192,000 after buying an additional 260,700 shares during the period. Finally, Carolinas Wealth Consulting LLC lifted its holdings in Energy Transfer by 27.6% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 4,957 shares of the pipeline company’s stock valued at $97,000 after buying an additional 1,073 shares during the period. Institutional investors 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.