Energy Transfer (NYSE:ET) Stock Price Up 3.3% – Time to Buy?

Energy Transfer LP (NYSE:ET) shares rose 3.3% during trading on Tuesday . The company traded as high as $17.03 and last traded at $16.40. Approximately 9,743,786 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 14,942,960 shares. The stock had previously closed at $15.87.

Wall Street Analyst Weigh In

ET has been the subject of several research reports. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. The Goldman Sachs Group raised their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Stifel Nicolaus boosted 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 reissued a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $23.00 price target on shares of Energy Transfer in a research report on Tuesday, March 25th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.09.

Energy Transfer Stock Down 0.2 %

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 company has a market cap of $54.37 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 0.64 and a beta of 1.32. The business has a fifty day moving average price of $19.10 and a two-hundred day moving average price of $18.46.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) 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%. On average, equities analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a $0.325 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a yield of 8.20%. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer’s dividend payout ratio is presently 101.56%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Stonegate Investment Group LLC grew its stake in 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 grew its position in shares of Energy Transfer by 3.1% in the fourth 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 increased its stake in shares of Energy Transfer by 3.0% in 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 lifted its position in shares of Energy Transfer by 0.4% during the 4th quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock worth $2,551,000 after purchasing an additional 535 shares during the last quarter. Finally, Cannell & Spears LLC boosted its stake in Energy Transfer by 0.4% during the 4th quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company’s stock valued at $2,657,000 after purchasing an additional 546 shares during the period. 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.