Energy Transfer (NYSE:ET) Stock Price Up 0.8%

Energy Transfer LP (NYSE:ET)’s stock price was up 0.8% during trading on Tuesday . The stock traded as high as $15.96 and last traded at $15.96. Approximately 3,833,361 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 12,369,467 shares. The stock had previously closed at $15.83.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ET shares. UBS Group reduced their price target on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. Citigroup increased their target price on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, Mizuho reiterated a “buy” rating and issued a $19.00 target price (up previously from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Energy Transfer Trading Up 0.5 %

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 company has a market cap of $53.61 billion, a PE ratio of 14.64 and a beta of 1.64. The business’s 50-day simple moving average is $15.23 and its 200-day simple moving average is $14.27.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.29 by $0.08. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The company had revenue of $20.53 billion for the quarter, compared to analyst estimates of $21.46 billion. During the same quarter in the prior year, the business posted $0.34 EPS. Energy Transfer’s quarterly revenue was up .2% on a year-over-year basis. As a group, analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared 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. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $1.26 annualized dividend and a dividend yield of 7.92%. Energy Transfer’s dividend payout ratio is 115.60%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Fifth Third Bancorp grew its stake in Energy Transfer by 19.6% in the 1st quarter. Fifth Third Bancorp now owns 143,224 shares of the pipeline company’s stock valued at $2,253,000 after buying an additional 23,422 shares during the last quarter. Wesbanco Bank Inc. grew its position in Energy Transfer by 34.8% in the 1st quarter. Wesbanco Bank Inc. now owns 21,489 shares of the pipeline company’s stock worth $338,000 after purchasing an additional 5,547 shares during the last quarter. Stablepoint Partners LLC grew its position in Energy Transfer by 39.7% in the 1st quarter. Stablepoint Partners LLC now owns 71,228 shares of the pipeline company’s stock worth $1,120,000 after purchasing an additional 20,229 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Energy Transfer by 2.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 2,818,699 shares of the pipeline company’s stock worth $44,338,000 after purchasing an additional 75,463 shares during the last quarter. Finally, Sutton Place Investors LLC grew its position in Energy Transfer by 1.5% in the 1st quarter. Sutton Place Investors LLC now owns 66,007 shares of the pipeline company’s stock worth $1,038,000 after purchasing an additional 1,007 shares during the last quarter. 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.