Energy Transfer (NYSE:ET) Trading Up 2.1% – Time to Buy?

Energy Transfer LP (NYSE:ET)’s share price was up 2.1% on Wednesday . The company traded as high as $18.33 and last traded at $18.21. Approximately 4,388,496 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 17,955,480 shares. The stock had previously closed at $17.83.

Analyst Ratings Changes

A number of equities analysts have recently commented on ET shares. Royal Bank of Canada raised their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Stifel Nicolaus lifted 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. Wells Fargo & Company raised their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Finally, The Goldman Sachs Group lifted their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.55.

Energy Transfer Stock Performance

The stock has a fifty day simple moving average of $19.72 and a 200-day simple moving average of $18.14. The stock has a market cap of $63.73 billion, a P/E ratio of 14.49, a PEG ratio of 0.64 and a beta of 1.72. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12.

Energy Transfer (NYSE:ET) last released its earnings results 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 return on equity of 11.56% and a net margin of 5.74%. On average, equities 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 disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a $0.325 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 7.00%. Energy Transfer’s dividend payout ratio (DPR) is presently 101.56%.

Hedge Funds Weigh In On Energy Transfer

Hedge funds have recently modified their holdings of the stock. Empowered Funds LLC grew its holdings in shares of Energy Transfer by 15.0% in the 3rd quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock valued at $5,567,000 after acquiring an additional 45,172 shares in the last quarter. Watts Gwilliam & Co. LLC bought a new position in shares of Energy Transfer in the 4th quarter valued at about $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in Energy Transfer by 4.0% in the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock valued at $148,621,000 after purchasing an additional 293,088 shares during the last quarter. Forvis Mazars Wealth Advisors LLC lifted its stake in Energy Transfer by 164.1% in the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company’s stock valued at $1,186,000 after purchasing an additional 37,633 shares during the last quarter. Finally, Kingsview Wealth Management LLC lifted its stake in Energy Transfer by 30.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock valued at $3,885,000 after purchasing an additional 57,184 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Company Profile

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.