Energy Transfer (NYSE:ET) Shares Up 1.1% – Here’s What Happened

Shares of Energy Transfer LP (NYSE:ET) traded up 1.1% on Thursday . The stock traded as high as $19.27 and last traded at $19.1550. 7,341,778 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 14,701,520 shares. The stock had previously closed at $18.94.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a report on Friday, June 5th. Raymond James Financial restated a “strong-buy” rating on shares of Energy Transfer in a report on Wednesday, May 6th. JPMorgan Chase & Co. upped their price target on shares of Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Truist Financial assumed coverage on shares of Energy Transfer in a research note on Tuesday, March 24th. They set a “buy” rating and a $23.00 price objective on the stock. Finally, Stifel Nicolaus increased their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $23.45.

Energy Transfer Stock Up 1.1%

The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.93 and a current ratio of 1.17. The stock has a market capitalization of $65.92 billion, a PE ratio of 15.96, a PEG ratio of 1.11 and a beta of 0.55. The business has a 50 day moving average of $19.42 and a two-hundred day moving average of $18.48.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The company had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $25.78 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. Energy Transfer’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 EPS. Analysts predict that Energy Transfer LP will post 1.43 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were issued a $0.3375 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 7.0%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio (DPR) is 112.50%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Basepoint Wealth LLC acquired a new stake in Energy Transfer in the fourth quarter valued at approximately $25,000. Gables Capital Management Inc. increased its position in shares of Energy Transfer by 60.0% during the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 600 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in shares of Energy Transfer during the first quarter worth $35,000. Sarver Vrooman Wealth Advisors purchased a new stake in shares of Energy Transfer during the 4th quarter valued at $32,000. Finally, Financial Life Planners purchased a new stake in shares of Energy Transfer during the 3rd quarter valued at $34,000. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.