Energy Transfer (NYSE:ET) Stock Price Up 0.7% – Time to Buy?

Shares of Energy Transfer LP (NYSE:ET) were up 0.7% on Friday . The company traded as high as $17.26 and last traded at $17.16. Approximately 4,569,223 shares traded hands during trading, a decline of 71% from the average daily volume of 15,492,280 shares. The stock had previously closed at $17.04.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Barclays lifted their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Stifel Nicolaus raised their price target on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Morgan Stanley boosted their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Citigroup reissued a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. Finally, UBS Group reissued a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.09.

Energy Transfer Trading Down 0.9 %

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 price of $17.46 and a 200-day moving average price of $18.51. The company has a market cap of $59.09 billion, a P/E ratio of 13.45, a PEG ratio of 0.64 and a beta of 0.77.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. The firm had revenue of $21.02 billion for the quarter, compared to analyst estimates of $22.28 billion. During the same quarter in the prior year, the company earned $0.32 earnings per share. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. Analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th will be given a dividend of $0.3275 per share. The ex-dividend date is Friday, May 9th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a yield of 7.61%. Energy Transfer’s dividend payout ratio (DPR) is 99.24%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. acquired a new stake in Energy Transfer during the first quarter worth approximately $204,000. Strategy Asset Managers LLC grew its holdings in Energy Transfer by 21.9% during the 1st quarter. Strategy Asset Managers LLC now owns 24,053 shares of the pipeline company’s stock worth $447,000 after acquiring an additional 4,319 shares during the last quarter. Exencial Wealth Advisors LLC increased its holdings in Energy Transfer by 0.9% in the first quarter. Exencial Wealth Advisors LLC now owns 91,677 shares of the pipeline company’s stock valued at $1,704,000 after purchasing an additional 783 shares during the period. Campbell Capital Management Inc. raised its position in shares of Energy Transfer by 3.0% during the first quarter. Campbell Capital Management Inc. now owns 76,200 shares of the pipeline company’s stock worth $1,417,000 after acquiring an additional 2,200 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its position in shares of Energy Transfer by 2.8% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,787,080 shares of the pipeline company’s stock worth $312,072,000 after purchasing an additional 455,860 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

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.