Energy Transfer (NYSE:ET) Hits New 52-Week High at $16.05

Energy Transfer LP (NYSE:ET) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $16.05 and last traded at $15.99, with a volume of 1115938 shares trading hands. The stock had previously closed at $15.96.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ET shares. UBS Group decreased their price target on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Mizuho reissued 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, April 18th. Finally, Citigroup lifted their price objective on shares of Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Energy Transfer Trading Up 0.4 %

The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88. The firm has a fifty day simple moving average of $15.36 and a 200-day simple moving average of $14.33. The firm has a market cap of $54.01 billion, a P/E ratio of 14.68 and a beta of 1.64.

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, topping 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 firm had revenue of $20.53 billion during the quarter, compared to analyst estimates of $21.46 billion. During the same quarter in the previous year, the company posted $0.34 earnings per share. The company’s revenue was up .2% compared to the same quarter last year. On average, equities research analysts expect that Energy Transfer LP will post 1.57 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be paid a $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 7.91%. The ex-dividend date of this dividend is Friday, May 10th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is presently 115.60%.

Institutional Trading of Energy Transfer

Institutional investors and hedge funds have recently modified their holdings of the stock. Alps Advisors Inc. raised its stake in Energy Transfer by 14.5% in the 3rd quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock worth $1,033,541,000 after acquiring an additional 9,341,798 shares during the last quarter. UBS Group AG lifted its stake in Energy Transfer by 13.3% in the 4th quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company’s stock worth $395,270,000 after purchasing an additional 3,368,427 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Energy Transfer by 38.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock valued at $353,576,000 after buying an additional 7,097,074 shares during the period. Clearbridge Investments LLC increased its holdings in Energy Transfer by 18.5% in the 4th quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock valued at $350,845,000 after purchasing an additional 3,976,676 shares during the last quarter. Finally, First Reserve GP XIII Ltd acquired a new stake in Energy Transfer in the 4th quarter valued at approximately $322,097,000. 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.