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

Energy Transfer LP (NYSE:ET) shares traded up 2.1% on Tuesday . The company traded as high as $19.31 and last traded at $19.29. 9,245,105 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 14,821,624 shares. The stock had previously closed at $18.89.

Wall Street Analyst Weigh In

Several equities analysts have commented on ET shares. JPMorgan Chase & Co. upped their price objective on shares of Energy Transfer from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research note on Friday, June 5th. Stifel Nicolaus lifted their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Finally, Citigroup reissued a “buy” rating and issued a $23.00 price target (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Energy Transfer presently has an average rating of “Buy” and a consensus price target of $23.45.

Energy Transfer Trading Up 2.1%

The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.93 and a current ratio of 1.17. The business has a fifty day simple moving average of $19.42 and a 200 day simple moving average of $18.45. The stock has a market capitalization of $66.38 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 1.09 and a beta of 0.55.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.05). Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The firm had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $25.78 billion. During the same quarter in the previous year, the business earned $0.36 EPS. The firm’s quarterly revenue was up 32.1% on a year-over-year basis. As a group, research analysts expect that Energy Transfer LP will post 1.43 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a dividend of $0.3375 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend was Friday, May 8th. Energy Transfer’s payout ratio is 112.50%.

Institutional Trading of Energy Transfer

A number of institutional investors have recently bought and sold shares of ET. Texas Yale Capital Corp. boosted its stake in shares of Energy Transfer by 6.1% during the fourth quarter. Texas Yale Capital Corp. now owns 1,311,965 shares of the pipeline company’s stock valued at $21,634,000 after purchasing an additional 75,700 shares in the last quarter. North Star Investment Management Corp. increased its stake in shares of Energy Transfer by 100.1% in the fourth quarter. North Star Investment Management Corp. now owns 161,523 shares of the pipeline company’s stock valued at $2,664,000 after buying an additional 80,786 shares during the period. Avior Wealth Management LLC raised its holdings in Energy Transfer by 436.6% in the 4th quarter. Avior Wealth Management LLC now owns 90,160 shares of the pipeline company’s stock valued at $1,487,000 after buying an additional 73,359 shares during the last quarter. Chase Investment Counsel Corp raised its holdings in Energy Transfer by 277.6% in the 3rd quarter. Chase Investment Counsel Corp now owns 219,083 shares of the pipeline company’s stock valued at $3,759,000 after buying an additional 161,067 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Energy Transfer by 2.6% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,898,420 shares of the pipeline company’s stock worth $375,777,000 after buying an additional 544,944 shares during the period. Institutional investors own 38.22% of the company’s stock.

About Energy Transfer

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.