Energy Transfer (NYSE:ET) Trading Up 0.9%

Energy Transfer LP (NYSE:ETGet Free Report)’s share price was up 0.9% during trading on Wednesday . The company traded as high as $15.98 and last traded at $15.92. Approximately 2,594,958 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 12,389,955 shares. The stock had previously closed at $15.78.

Analyst Ratings Changes

A number of brokerages have commented on ET. Citigroup boosted their price objective on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. UBS Group dropped their target price on Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.57.

Read Our Latest Stock Analysis on Energy Transfer

Energy Transfer Stock Performance

The firm has a market cap of $53.84 billion, a PE ratio of 14.58 and a beta of 1.64. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37. The firm’s 50 day simple moving average is $14.83 and its 200 day simple moving average is $14.09.

Energy Transfer (NYSE:ETGet Free Report) last issued its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.29 by $0.08. The company had revenue of $20.53 billion for the quarter, compared to the consensus estimate of $21.46 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 EPS. On average, research analysts forecast that Energy Transfer LP will post 1.44 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Wednesday, February 7th were paid a dividend of $0.315 per share. The ex-dividend date of this dividend was Tuesday, February 6th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.31. This represents a $1.26 dividend on an annualized basis and a dividend yield of 7.88%. Energy Transfer’s dividend payout ratio (DPR) is currently 115.60%.

Hedge Funds Weigh In On Energy Transfer

A number of hedge funds and other institutional investors have recently modified their holdings of ET. Moneta Group Investment Advisors LLC boosted its stake in Energy Transfer by 109,332.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 145,943,387 shares of the pipeline company’s stock valued at $1,732,348,000 after acquiring an additional 145,810,023 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Energy Transfer by 28.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 81,532,518 shares of the pipeline company’s stock valued at $1,125,149,000 after acquiring an additional 18,087,249 shares in the last quarter. Morgan Stanley boosted its stake in Energy Transfer by 20.9% in the fourth quarter. Morgan Stanley now owns 76,339,168 shares of the pipeline company’s stock valued at $906,146,000 after acquiring an additional 13,220,435 shares in the last quarter. Alps Advisors Inc. raised its holdings in shares of Energy Transfer by 14.5% in the third quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock worth $1,033,541,000 after buying an additional 9,341,798 shares during the last quarter. Finally, UBS Group AG raised its holdings in shares of Energy Transfer by 13.3% in the fourth quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company’s stock worth $395,270,000 after buying an additional 3,368,427 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

About Energy Transfer

(Get Free Report)

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.

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