Energy Transfer (NYSE:ET) Trading Up 1.2% – Time to Buy?

Energy Transfer LP (NYSE:ET)’s share price was up 1.2% on Thursday . The company traded as high as $17.61 and last traded at $17.74. Approximately 2,485,155 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 15,473,943 shares. The stock had previously closed at $17.53.

Analyst Ratings Changes

A number of analysts have weighed in on ET shares. Citigroup restated a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. Mizuho raised their price target on Energy Transfer from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, May 20th. Stifel Nicolaus raised their price target on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Wells Fargo & Company cut their price target on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 7th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $23.00 price target on shares of Energy Transfer in a research note on Tuesday, March 25th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.64.

Energy Transfer Price Performance

The company has a 50-day moving average of $17.20 and a 200-day moving average of $18.62. The stock has a market cap of $61.57 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 0.64 and a beta of 0.78. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. The business had revenue of $21.02 billion for the quarter, compared to analyst estimates of $22.28 billion. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.32 EPS. As a group, equities research 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 declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were paid a dividend of $0.3275 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.31 annualized dividend and a dividend yield of 7.30%. Energy Transfer’s payout ratio is 99.24%.

Institutional Investors Weigh In On Energy Transfer

Several institutional investors have recently modified their holdings of the company. Militia Capital Partners LP purchased a new stake in shares of Energy Transfer during the 1st quarter worth approximately $7,715,000. Hodges Capital Management Inc. raised its position in shares of Energy Transfer by 2.2% during the 1st quarter. Hodges Capital Management Inc. now owns 331,178 shares of the pipeline company’s stock worth $6,157,000 after purchasing an additional 7,250 shares during the last quarter. Ellsworth Advisors LLC raised its position in shares of Energy Transfer by 4.7% during the 1st quarter. Ellsworth Advisors LLC now owns 114,086 shares of the pipeline company’s stock worth $2,121,000 after purchasing an additional 5,132 shares during the last quarter. Rollins Financial Advisors LLC raised its position in shares of Energy Transfer by 18.1% during the 1st quarter. Rollins Financial Advisors LLC now owns 189,842 shares of the pipeline company’s stock worth $3,529,000 after purchasing an additional 29,133 shares during the last quarter. Finally, Chelsea Counsel Co. acquired a new position in shares of Energy Transfer during the 1st quarter worth approximately $372,000. Hedge funds and other 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.