Energy Transfer (NYSE:ET) Trading Up 2.1% – Here’s What Happened

Energy Transfer LP (NYSE:ET)’s stock price traded up 2.1% during trading on Tuesday . The stock traded as high as $17.37 and last traded at $17.17. 4,281,804 shares were traded during trading, a decline of 72% from the average session volume of 15,225,568 shares. The stock had previously closed at $16.82.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ET shares. Royal Bank of Canada reissued an “outperform” rating and set a $23.00 price target on shares of Energy Transfer in a research report on Tuesday, March 25th. Wells Fargo & Company boosted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Stifel Nicolaus raised their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Finally, Citigroup restated a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.09.

Energy Transfer Stock Down 1.1 %

The firm has a market cap of $58.06 billion, a P/E ratio of 13.22, a PEG ratio of 0.64 and a beta of 1.32. The firm’s 50-day moving average price is $18.35 and its 200 day moving average price is $18.42. 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 EPS 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%. On average, equities research analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 7.68%. The ex-dividend date of this dividend was Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. 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. MML Investors Services LLC raised its stake in Energy Transfer by 2.4% during the third quarter. MML Investors Services LLC now owns 109,984 shares of the pipeline company’s stock worth $1,765,000 after acquiring an additional 2,620 shares during the period. Geode Capital Management LLC raised its position in shares of Energy Transfer by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 126,331 shares of the pipeline company’s stock worth $2,028,000 after purchasing an additional 5,127 shares during the period. World Investment Advisors LLC lifted its holdings in shares of Energy Transfer by 4.6% in the 3rd quarter. World Investment Advisors LLC now owns 78,806 shares of the pipeline company’s stock worth $1,265,000 after purchasing an additional 3,485 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its position in Energy Transfer by 1,265.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 231,398 shares of the pipeline company’s stock valued at $3,714,000 after purchasing an additional 214,446 shares during the period. Finally, Tidal Investments LLC grew its stake in Energy Transfer by 1.2% during the 3rd quarter. Tidal Investments LLC now owns 101,738 shares of the pipeline company’s stock worth $1,633,000 after buying an additional 1,248 shares during the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

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.