Energy Transfer (NYSE:ET) Stock Price Up 1.9% – What’s Next?

Energy Transfer LP (NYSE:ET) shares shot up 1.9% during trading on Friday . The company traded as high as $17.52 and last traded at $17.24. 11,249,104 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 15,208,299 shares. The stock had previously closed at $16.92.

Analysts Set New Price Targets

ET has been the subject of several recent research reports. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Stifel Nicolaus boosted their price objective on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $23.00 price target on shares of Energy Transfer in a report on Tuesday, March 25th. Finally, The Goldman Sachs Group increased their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Energy Transfer presently has a consensus rating of “Moderate Buy” and an average price target of $22.09.

Energy Transfer Trading Up 1.9 %

The stock has a market capitalization of $59.14 billion, a PE ratio of 13.46, a P/E/G ratio of 0.64 and a beta of 1.32. The company’s 50 day moving average price is $18.29 and its two-hundred day moving average price is $18.43. 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 (NYSE:ET) last released its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. As a group, analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 7.54%. The ex-dividend date of this dividend was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 101.56%.

Institutional Investors Weigh In On Energy Transfer

Hedge funds have recently modified their holdings of the company. Stonegate Investment Group LLC boosted its holdings in Energy Transfer by 1.4% in the 4th quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock valued at $672,000 after purchasing an additional 482 shares during the last quarter. Private Client Services LLC increased its stake in Energy Transfer by 3.1% during the fourth quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock worth $331,000 after acquiring an additional 511 shares during the last quarter. United Advisor Group LLC lifted its stake in shares of Energy Transfer by 3.0% in the 4th quarter. United Advisor Group LLC now owns 18,540 shares of the pipeline company’s stock valued at $363,000 after purchasing an additional 534 shares during the last quarter. Wealthspire Advisors LLC grew its holdings in shares of Energy Transfer by 0.4% during the 4th quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock worth $2,551,000 after purchasing an additional 535 shares during the period. Finally, Cannell & Spears LLC increased its position in shares of Energy Transfer by 0.4% during the 4th quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company’s stock worth $2,657,000 after purchasing an additional 546 shares during the last quarter. 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.