Energy Transfer (NYSE:ET) Trading Up 1.1% – Here’s Why

Shares of Energy Transfer LP (NYSE:ET) shot up 1.1% during trading on Thursday . The stock traded as high as $19.71 and last traded at $19.42. 22,601,814 shares were traded during trading, an increase of 65% from the average session volume of 13,712,633 shares. The stock had previously closed at $19.20.

Wall Street Analyst Weigh In

ET has been the subject of several analyst reports. UBS Group upped their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Royal Bank of Canada raised their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Bank of America initiated coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Energy Transfer currently has an average rating of “Buy” and an average price target of $20.00.

Energy Transfer Stock Up 1.1 %

The company has a market capitalization of $66.49 billion, a P/E ratio of 14.28, a PEG ratio of 0.61 and a beta of 1.66. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The company has a 50 day moving average of $16.85 and a 200-day moving average of $16.25.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. During the same quarter last year, the business posted $0.31 EPS. The business’s revenue was up .2% on a year-over-year basis. As a group, equities analysts anticipate that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a $0.3225 dividend. This represents a $1.29 annualized dividend and a yield of 6.64%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Princeton Global Asset Management LLC increased its position in shares of Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after buying an additional 650 shares during the period. Assetmark Inc. boosted its position in Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 1,668 shares in the last quarter. LRI Investments LLC bought a new stake in Energy Transfer during the 1st quarter valued at approximately $29,000. HWG Holdings LP purchased a new position in shares of Energy Transfer during the 2nd quarter worth approximately $33,000. Finally, Sugarloaf Wealth Management LLC raised its position in shares of Energy Transfer by 43.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 750 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

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.