Energy Transfer (NYSE:ET) Stock Price Up 0.6% – Here’s What Happened

Energy Transfer LP (NYSE:ET)’s stock price shot up 0.6% on Tuesday . The stock traded as high as $18.70 and last traded at $18.71. 2,850,323 shares were traded during trading, a decline of 82% from the average session volume of 16,219,917 shares. The stock had previously closed at $18.59.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Morgan Stanley raised their target price on shares of Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. Stifel Nicolaus lifted their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Citigroup reiterated a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. Barclays lifted their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, Wells Fargo & Company increased their target price 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 investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.09.

Energy Transfer Trading Up 0.7 %

The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The business has a 50 day moving average of $19.43 and a 200-day moving average of $18.41. The firm has a market capitalization of $64.22 billion, a P/E ratio of 14.61, a PEG ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. Analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.95%. The ex-dividend date was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 101.56%.

Institutional Investors Weigh In On Energy Transfer

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stonegate Investment Group LLC boosted its holdings in shares of Energy Transfer by 1.4% in the 4th quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock valued at $672,000 after buying an additional 482 shares during the last quarter. Private Client Services LLC lifted its holdings in Energy Transfer by 3.1% during the 4th quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock valued at $331,000 after purchasing an additional 511 shares during the last quarter. United Advisor Group LLC boosted its position in Energy Transfer by 3.0% during the fourth quarter. United Advisor Group LLC now owns 18,540 shares of the pipeline company’s stock worth $363,000 after purchasing an additional 534 shares during the period. Wealthspire Advisors LLC increased its holdings in shares of Energy Transfer by 0.4% in the fourth quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock valued at $2,551,000 after purchasing an additional 535 shares during the last quarter. Finally, Cannell & Spears LLC boosted its holdings in shares of Energy Transfer by 0.4% during the 4th quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company’s stock worth $2,657,000 after buying an additional 546 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

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.