Energy Transfer (NYSE:ET) Stock Price Up 1.4% – Here’s Why

Energy Transfer LP (NYSE:ET)’s stock price rose 1.4% on Thursday . The company traded as high as $20.47 and last traded at $20.3740. Approximately 12,890,934 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 16,337,571 shares. The stock had previously closed at $20.10.

Analyst Ratings Changes

ET has been the topic of a number of research analyst reports. Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a report on Tuesday. TD Cowen reissued a “buy” rating and issued a $23.00 price target (up from $22.00) on shares of Energy Transfer in a report on Wednesday. Barclays reissued an “overweight” rating and issued a $23.00 price target (up from $22.00) on shares of Energy Transfer in a report on Thursday. Stifel Nicolaus boosted their price target 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. Finally, UBS Group reissued a “buy” rating on shares of Energy Transfer in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $22.75.

Energy Transfer Stock Performance

The firm has a market capitalization of $69.43 billion, a PE ratio of 16.81, a P/E/G ratio of 1.19 and a beta of 0.57. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93. The company’s fifty day simple moving average is $19.19 and its 200 day simple moving average is $17.95.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.05). The business had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $25.78 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. Energy Transfer’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same period last year, the company earned $0.36 earnings per share. As a group, equities research analysts expect that Energy Transfer LP will post 1.41 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Friday, May 8th will be given a $0.3375 dividend. This represents a $1.35 annualized dividend and a dividend yield of 6.7%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date is Friday, May 8th. Energy Transfer’s dividend payout ratio (DPR) is currently 112.50%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Excelsior Advisor Network LLC purchased a new stake in shares of Energy Transfer during the first quarter valued at approximately $901,000. Quantinno Capital Management LP lifted its stake in Energy Transfer by 9.5% in the first quarter. Quantinno Capital Management LP now owns 496,002 shares of the pipeline company’s stock worth $9,573,000 after acquiring an additional 43,073 shares during the period. Lazard Asset Management LLC lifted its stake in Energy Transfer by 13.3% in the first quarter. Lazard Asset Management LLC now owns 27,772 shares of the pipeline company’s stock worth $536,000 after acquiring an additional 3,256 shares during the period. Family Manage LLC lifted its stake in Energy Transfer by 40.2% in the first quarter. Family Manage LLC now owns 19,162 shares of the pipeline company’s stock worth $370,000 after acquiring an additional 5,498 shares during the period. Finally, Gateway Wealth Partners LLC raised its holdings in Energy Transfer by 114.6% in the first quarter. Gateway Wealth Partners LLC now owns 119,838 shares of the pipeline company’s stock worth $2,313,000 after purchasing an additional 64,000 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

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.