Energy Transfer (NYSE:ET) Stock Price Up 1.4% – Should You Buy?

Energy Transfer LP (NYSE:ET)’s stock price was up 1.4% during mid-day trading on Thursday . The company traded as high as $19.36 and last traded at $19.3160. 8,620,610 shares changed hands during trading, a decline of 40% from the average session volume of 14,429,854 shares. The stock had previously closed at $19.05.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Energy Transfer from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Wells Fargo & Company boosted their price target on shares of Energy Transfer from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, March 13th. Stifel Nicolaus upped their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Energy Transfer in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $23.45.

Energy Transfer Stock Up 1.4%

The business’s fifty day moving average is $19.45 and its two-hundred day moving average is $18.57. The stock has a market cap of $66.47 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 1.11 and a beta of 0.55. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.50.

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

Energy Transfer Increases Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Basepoint Wealth LLC acquired a new stake in Energy Transfer in the 4th quarter valued at about $25,000. Gables Capital Management Inc. grew 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 buying an additional 600 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Energy Transfer during the first quarter worth approximately $35,000. Sarver Vrooman Wealth Advisors purchased a new stake in shares of Energy Transfer during the fourth quarter worth approximately $32,000. Finally, Financial Life Planners acquired a new stake in Energy Transfer in the third quarter valued at approximately $34,000. 38.22% of the stock is owned by institutional investors and hedge funds.

About Energy Transfer

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.