Energy Transfer (NYSE:ET) Trading 0.9% Higher After Analyst Upgrade

Energy Transfer LP (NYSE:ET) traded up 0.9% on Tuesday after Mizuho raised their price target on the stock from $22.00 to $23.00. Mizuho currently has an outperform rating on the stock. Energy Transfer traded as high as $18.19 and last traded at $18.16. 3,891,949 shares were traded during trading, a decline of 75% from the average session volume of 15,489,989 shares. The stock had previously closed at $18.00.

Other equities research analysts have also recently issued reports about the company. UBS Group restated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Royal Bank of Canada reissued an “outperform” rating and set a $23.00 price objective on shares of Energy Transfer in a research note on Tuesday, March 25th. Wells Fargo & Company decreased their target price on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 7th. Morgan Stanley increased their price target on shares of Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Energy Transfer from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.64.

Institutional Investors Weigh In On Energy Transfer

Large investors have recently modified their holdings of the stock. Mountain Hill Investment Partners Corp. purchased a new stake in Energy Transfer in the fourth quarter worth about $25,000. Capital A Wealth Management LLC bought a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $26,000. Fourth Dimension Wealth LLC purchased a new stake in Energy Transfer in the fourth quarter worth $29,000. Vision Financial Markets LLC purchased a new position in Energy Transfer during the first quarter valued at $33,000. Finally, United Community Bank bought a new stake in shares of Energy Transfer during the 4th quarter valued at $35,000. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.9%

The stock has a market capitalization of $62.29 billion, a PE ratio of 14.18, a P/E/G ratio of 0.64 and a beta of 0.77. The stock’s 50-day moving average price is $17.47 and its two-hundred day moving average price is $18.59. 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 announced its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The business had revenue of $21.02 billion during the quarter, compared to the consensus estimate of $22.28 billion. During the same quarter last year, the firm earned $0.32 earnings per share. The business’s revenue for the quarter was down 2.8% 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th will be issued a $0.3275 dividend. This represents a $1.31 annualized dividend and a yield of 7.22%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, May 9th. Energy Transfer’s payout ratio is 99.24%.

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.