Energy Transfer (NYSE:ET) Trading Up 0.6% – Should You Buy?

Energy Transfer LP (NYSE:ET) shares shot up 0.6% on Thursday . The stock traded as high as $19.74 and last traded at $19.70. 4,103,020 shares changed hands during trading, a decline of 70% from the average session volume of 13,659,068 shares. The stock had previously closed at $19.59.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Bank of America began coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. Wells Fargo & Company increased their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Barclays lifted their target price on shares of Energy Transfer from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. UBS Group raised their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada upped their target price on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.55.

Energy Transfer Stock Down 0.1 %

The firm has a 50-day moving average of $18.29 and a 200 day moving average of $16.87. The stock has a market capitalization of $67.04 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. During the same quarter last year, the firm earned $0.31 EPS. Energy Transfer’s quarterly revenue was up .2% on a year-over-year basis. On average, sell-side analysts anticipate that Energy Transfer LP will post 1.32 earnings per share for the current year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a $0.3225 dividend. This represents a $1.29 annualized dividend and a yield of 6.59%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio is currently 94.85%.

Hedge Funds Weigh In On Energy Transfer

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its holdings in Energy Transfer by 32.3% in the second quarter. Bank of New York Mellon Corp now owns 94,442 shares of the pipeline company’s stock worth $1,532,000 after acquiring an additional 23,079 shares during the last quarter. Rothschild Investment LLC acquired a new position in Energy Transfer during the 2nd quarter valued at approximately $163,000. Van ECK Associates Corp grew its stake in Energy Transfer by 18.7% during the 2nd quarter. Van ECK Associates Corp now owns 138,936 shares of the pipeline company’s stock worth $2,254,000 after buying an additional 21,897 shares during the last quarter. D.A. Davidson & CO. increased its position in Energy Transfer by 9.4% in the second quarter. D.A. Davidson & CO. now owns 263,337 shares of the pipeline company’s stock worth $4,271,000 after buying an additional 22,668 shares during the period. Finally, Natixis Advisors LLC bought a new stake in Energy Transfer in the second quarter valued at $419,000. Institutional investors and hedge funds 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.