Energy Transfer (NYSE:ET) Shares Up 2.8% – Here’s What Happened

Energy Transfer LP (NYSE:ET)’s share price shot up 2.8% during mid-day trading on Friday . The stock traded as high as $18.69 and last traded at $18.69. 3,363,337 shares changed hands during trading, a decline of 81% from the average session volume of 17,715,738 shares. The stock had previously closed at $18.17.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ET. Royal Bank of Canada lifted their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Wells Fargo & Company raised their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Barclays raised their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Finally, The Goldman Sachs Group raised their price objective on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.55.

Energy Transfer Trading Up 3.0 %

The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The company has a 50-day simple moving average of $19.65 and a 200 day simple moving average of $18.17. The company has a market capitalization of $64.22 billion, a P/E ratio of 14.62, a P/E/G ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET) last released its quarterly earnings data 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 net margin of 5.74% and a return on equity of 11.56%. Sell-side analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a dividend of $0.325 per share. The ex-dividend date of this dividend was Friday, February 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.95%. Energy Transfer’s payout ratio is currently 101.56%.

Institutional Trading of Energy Transfer

A number of institutional investors and hedge funds have recently modified their holdings of ET. Mountain Hill Investment Partners Corp. bought a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $25,000. Capital A Wealth Management LLC acquired a new stake in Energy Transfer in the 4th quarter valued at $26,000. Assetmark Inc. boosted its stake in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after buying an additional 1,668 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Energy Transfer in the 4th quarter valued at $29,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in Energy Transfer in the 4th quarter valued at $29,000. 38.22% of the stock is currently owned by institutional investors.

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.