Energy Transfer (NYSE:ET) Trading Up 0.4% - Here's Why
Energy Transfer (NYSE:ET) shares rose 0.4% to $18.81, with a trading volume significantly below average. Analysts have raised price targets, with Morgan Stanley setting it at $26.00 and Wells Fargo at $21.00. The stock has a consensus rating of "Moderate Buy" and a target price of $22.09. Energy Transfer recently declared a quarterly dividend of $0.325, up from $0.32, yielding 7.34%. Institutional investors hold 38.22% of the stock, reflecting growing interest in the company, which operates extensive natural gas pipelines and storage facilities.
Energy Transfer LP (NYSE:ET - Get Free Report) shares were up 0.4% on Wednesday . The company traded as high as $18.82 and last traded at $18.81. Approximately 1,631,148 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 14,526,048 shares. The stock had previously closed at $18.73.
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Analyst Ratings Changes
- Energy Transfer: Powering Data With Dividends and Diversification
ET has been the subject of several research reports. Morgan Stanley increased their price objective on Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Wells Fargo & Company raised their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. Barclays boosted their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. UBS Group restated a "buy" rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Finally, The Goldman Sachs Group upped their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $22.09.
View Our Latest Stock Analysis on ET
Energy Transfer Trading Down 6.5 %
- Why Energy Transfer Belongs on Your Watchlist
The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The stock's fifty day moving average price is $19.28 and its two-hundred day moving average price is $18.43. The stock has a market capitalization of $60.75 billion, a P/E ratio of 13.83, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72.
Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. Equities research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.
Energy Transfer Increases Dividend
- Tariff Fatigue? Look to These 3 Stocks for Upside
The business 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 is a boost from Energy Transfer's previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a yield of 7.34%. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer's payout ratio is 101.56%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Thrivent Financial for Lutherans grew its holdings in Energy Transfer by 57.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 21,671 shares of the pipeline company's stock worth $348,000 after acquiring an additional 7,870 shares during the last quarter. Chevy Chase Trust Holdings LLC increased its holdings in Energy Transfer by 2.9% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 52,166 shares of the pipeline company's stock valued at $837,000 after purchasing an additional 1,486 shares during the period. Hilltop Holdings Inc. raised its position in Energy Transfer by 340.4% during the 3rd quarter. Hilltop Holdings Inc. now owns 64,432 shares of the pipeline company's stock valued at $1,034,000 after purchasing an additional 49,802 shares during the last quarter. Integrated Wealth Concepts LLC lifted its holdings in Energy Transfer by 15.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 144,200 shares of the pipeline company's stock worth $2,314,000 after buying an additional 19,669 shares during the period. Finally, Recurrent Investment Advisors LLC grew its position in shares of Energy Transfer by 8.0% in the 3rd quarter. Recurrent Investment Advisors LLC now owns 4,581,247 shares of the pipeline company's stock worth $73,529,000 after buying an additional 339,609 shares during the last quarter. Institutional investors own 38.22% of the company's stock.
Energy Transfer Company Profile
(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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