Energy Transfer (NYSE:ET) Trading 2.6% Higher

Shares of Energy Transfer LP (NYSE:ET) traded up 2.6% during mid-day trading on Thursday . The company traded as high as $15.65 and last traded at $15.62. 6,714,783 shares were traded during mid-day trading, a decline of 46% from the average session volume of 12,376,579 shares. The stock had previously closed at $15.23.

Analysts Set New Price Targets

A number of equities analysts recently commented on ET shares. Mizuho reiterated a “buy” rating and set a $19.00 price target (up previously from $18.00) on shares of Energy Transfer in a report on Thursday. UBS Group dropped their price target on Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Finally, Citigroup upped their price objective on shares of Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.00.

Energy Transfer Stock Up 1.5 %

The stock’s fifty day simple moving average is $15.19 and its 200-day simple moving average is $14.24. The stock has a market cap of $53.12 billion, a P/E ratio of 14.46 and a beta of 1.64. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.88 and a current ratio of 1.10.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.08. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The business had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $21.46 billion. During the same period in the previous year, the company posted $0.34 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Wednesday, February 7th were given a $0.315 dividend. The ex-dividend date was Tuesday, February 6th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 7.99%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.31. Energy Transfer’s dividend payout ratio (DPR) is presently 115.60%.

Institutional Investors Weigh In On Energy Transfer

Institutional investors and hedge funds have recently bought and sold shares of the company. Northwest Financial Advisors bought a new position in shares of Energy Transfer in the 4th quarter valued at $25,000. VitalStone Financial LLC boosted its stake in shares of Energy Transfer by 100.0% in the 1st quarter. VitalStone Financial LLC now owns 3,000 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 1,500 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Energy Transfer during the 1st quarter valued at approximately $25,000. Rise Advisors LLC increased its position in Energy Transfer by 88.2% during the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 927 shares in the last quarter. Finally, IMA Wealth Inc. boosted its position in Energy Transfer by 100.0% in the second quarter. IMA Wealth Inc. now owns 2,400 shares of the pipeline company’s stock valued at $30,000 after buying an additional 1,200 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

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.