Energy Transfer (NYSE:ET) Given New $23.00 Price Target at Mizuho

Energy Transfer (NYSE:ET) had its price objective raised by Mizuho from $22.00 to $23.00 in a report published on Tuesday morning,Benzinga reports. Mizuho currently has an outperform rating on the pipeline company’s stock.

Other equities analysts have also recently issued research reports about the stock. Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. Morgan Stanley increased their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Stifel Nicolaus increased their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Energy Transfer in a research report on Tuesday, March 25th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Energy Transfer from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.64.

Energy Transfer Stock Up 0.7%

Shares of NYSE ET opened at $18.12 on Tuesday. The company has a 50 day simple moving average of $17.47 and a 200-day simple moving average of $18.58. The company has a market capitalization of $62.17 billion, a P/E ratio of 14.16, a P/E/G ratio of 0.64 and a beta of 0.77. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. Energy Transfer has a 1 year low of $14.60 and a 1 year high of $21.45.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. The firm had revenue of $21.02 billion during the quarter, compared to analysts’ expectations of $22.28 billion. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the company posted $0.32 EPS. On average, equities research analysts predict that Energy Transfer will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were given a $0.3275 dividend. This represents a $1.31 annualized dividend and a yield of 7.23%. The ex-dividend date of this dividend was Friday, May 9th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio (DPR) is currently 99.24%.

Hedge Funds Weigh In On Energy Transfer

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Energy Transfer during the 4th quarter worth $25,000. Capital A Wealth Management LLC acquired a new position in Energy Transfer in the fourth quarter valued at $26,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Energy Transfer in the fourth quarter valued at about $29,000. United Community Bank purchased a new stake in shares of Energy Transfer in the fourth quarter valued at about $35,000. Finally, Vision Financial Markets LLC purchased a new position in Energy Transfer in the 1st quarter valued at approximately $33,000. 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.