Energy Transfer (NYSE:ET) Trading Up 0.5% - Here's What Happened
Energy Transfer (NYSE:ET) saw its stock price rise 0.5% to $17.20, with a trading volume significantly lower than average. Analysts have raised their price targets, with Barclays increasing it to $25.00 and Morgan Stanley to $26.00, both maintaining an "overweight" rating. The company recently declared a quarterly dividend of $0.325, reflecting a yield of 7.68%. Energy Transfer has a market cap of $58.06 billion and a PE ratio of 13.22. Hedge funds hold 38.22% of the stock, indicating strong institutional interest.
Energy Transfer LP (NYSE:ET - Get Free Report)'s stock price rose 0.5% during trading on Wednesday . The company traded as high as $17.30 and last traded at $17.20. Approximately 2,449,137 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 15,201,590 shares. The stock had previously closed at $17.11.
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Analyst Ratings Changes
- Energy Transfer: Tariff-Resistant Midstream Resilience
A number of research analysts have commented on the stock. Barclays upped their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday, January 13th. Morgan Stanley lifted their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Stifel Nicolaus upped their price target on Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. 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 note on Thursday, December 19th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $22.09.
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Energy Transfer Price Performance
- Energy Transfer: Powering Data With Dividends and Diversification
The stock has a market cap of $58.06 billion, a PE ratio of 13.22, a PEG ratio of 0.64 and a beta of 1.32. The company has a 50-day simple moving average of $18.41 and a 200-day simple moving average of $18.43. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88.
Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 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%. Sell-side analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.
Energy Transfer Increases Dividend
- Why Energy Transfer Belongs on Your Watchlist
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 7.68%. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. Energy Transfer's dividend payout ratio (DPR) is presently 101.56%.
Hedge Funds Weigh In On Energy Transfer
Large investors have recently bought and sold shares of the stock. First United Bank & Trust raised its holdings in shares of Energy Transfer by 233.7% in the 1st quarter. First United Bank & Trust now owns 37,541 shares of the pipeline company's stock worth $698,000 after purchasing an additional 26,291 shares during the period. GPS Wealth Strategies Group LLC grew its stake in Energy Transfer by 2.7% during the first quarter. GPS Wealth Strategies Group LLC now owns 32,715 shares of the pipeline company's stock worth $608,000 after buying an additional 875 shares during the period. Simon Quick Advisors LLC lifted its holdings in shares of Energy Transfer by 35.2% during the 1st quarter. Simon Quick Advisors LLC now owns 13,759 shares of the pipeline company's stock valued at $256,000 after acquiring an additional 3,579 shares in the last quarter. Focus Financial Network Inc. boosted its position in Energy Transfer by 37.4% during the 1st quarter. Focus Financial Network Inc. now owns 36,321 shares of the pipeline company's stock worth $675,000 after purchasing an additional 9,883 shares during the period. Finally, Bard Financial Services Inc. raised its position in Energy Transfer by 22.4% in the first quarter. Bard Financial Services Inc. now owns 68,250 shares of the pipeline company's stock valued at $1,269,000 after purchasing an additional 12,500 shares during the period. Hedge funds and other institutional investors own 38.22% of the company's stock.
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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