Energy Transfer (NYSE:ET) Trading Up 1.5% – Here’s Why

Energy Transfer LP (NYSE:ET) shares were up 1.5% on Monday . The stock traded as high as $19.23 and last traded at $19.13. Approximately 17,110,665 shares were traded during mid-day trading, an increase of 7% from the average daily volume of 16,017,832 shares. The stock had previously closed at $18.84.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ET. TD Cowen upped their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. UBS Group reissued a “buy” rating on shares of Energy Transfer in a report on Wednesday, January 7th. JPMorgan Chase & Co. decreased their price objective on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Monday, November 24th. Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a research report on Friday, January 16th. Finally, Royal Bank Of Canada raised shares of Energy Transfer to a “moderate buy” rating in a report on Monday, December 15th. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.20.

Energy Transfer Price Performance

The company has a quick ratio of 0.90, a current ratio of 1.22 and a debt-to-equity ratio of 1.50. The firm’s fifty day moving average price is $17.67 and its 200 day moving average price is $17.21. The stock has a market cap of $65.81 billion, a PE ratio of 15.81, a P/E/G ratio of 0.97 and a beta of 0.63.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, February 17th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.09). The company had revenue of $25.32 billion for the quarter, compared to analysts’ expectations of $23.56 billion. Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. The business’s revenue was up 29.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.29 earnings per share. As a group, equities analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Friday, February 6th were issued a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 7.0%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, February 6th. Energy Transfer’s payout ratio is presently 110.74%.

Hedge Funds Weigh In On Energy Transfer

Several institutional investors have recently added to or reduced their stakes in the company. Basepoint Wealth LLC bought a new position in shares of Energy Transfer during the 4th quarter valued at approximately $25,000. Gables Capital Management Inc. raised its stake in Energy Transfer by 60.0% during the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 600 shares in the last quarter. Sarver Vrooman Wealth Advisors bought a new position in Energy Transfer during the fourth quarter valued at $32,000. Financial Life Planners purchased a new position in shares of Energy Transfer in the 3rd quarter worth $34,000. Finally, Navalign LLC bought a new stake in shares of Energy Transfer in the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Company Profile

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.