Energy Transfer (NYSE:ET) Stock Price Up 1.2% – Here’s What Happened

Energy Transfer LP (NYSE:ET)’s stock price rose 1.2% during trading on Tuesday . The company traded as high as $20.50 and last traded at $20.4380. Approximately 11,935,444 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 16,160,011 shares. The stock had previously closed at $20.19.

Analyst Ratings Changes

ET has been the subject of a number of research reports. Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a report on Tuesday, May 12th. JPMorgan Chase & Co. upped their target price on shares of Energy Transfer from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Stifel Nicolaus upped their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Jefferies Financial Group reissued a “hold” rating on shares of Energy Transfer in a report on Wednesday, May 6th. Finally, TD Cowen reissued a “buy” rating and set a $23.00 price target (up from $22.00) on shares of Energy Transfer in a report on Wednesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $22.75.

Energy Transfer Stock Up 1.2%

The stock has a market capitalization of $70.33 billion, a PE ratio of 17.03, a PEG ratio of 1.21 and a beta of 0.57. The firm’s fifty day moving average is $19.23 and its 200-day moving average is $17.98. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.50.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.05). The firm had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $25.78 billion. Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The company’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 earnings per share. On average, equities research analysts predict that Energy Transfer LP will post 1.37 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th will be given a dividend of $0.3375 per share. The ex-dividend date is Friday, May 8th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a yield of 6.6%. Energy Transfer’s dividend payout ratio (DPR) is currently 112.50%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Basepoint Wealth LLC acquired a new position in Energy Transfer during the fourth quarter worth about $25,000. Gables Capital Management Inc. grew its position 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 worth $26,000 after buying an additional 600 shares during the period. Sarver Vrooman Wealth Advisors acquired a new position in Energy Transfer during the fourth quarter worth about $32,000. Financial Life Planners acquired a new position in Energy Transfer during the third quarter worth about $34,000. Finally, Cassaday & Co Wealth Management LLC acquired a new position in Energy Transfer during the first quarter worth about $35,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

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.