Energy Transfer (NYSE:ET) Trading Up 0.5% – What’s Next?

Energy Transfer LP (NYSE:ET)’s share price rose 0.5% during mid-day trading on Monday . The stock traded as high as $19.77 and last traded at $19.74. Approximately 2,364,376 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 14,885,208 shares. The stock had previously closed at $19.64.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ET. Wells Fargo & Company upped their target price on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Barclays lifted their price target on Energy Transfer from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. UBS Group increased their target price on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Bank of America began coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, The Goldman Sachs Group upped their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and an average target price of $20.55.

Energy Transfer Trading Up 1.1 %

The company has a market cap of $67.49 billion, a PE ratio of 14.49, a P/E/G ratio of 0.63 and a beta of 1.70. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The company has a fifty day simple moving average of $18.54 and a two-hundred day simple moving average of $16.99.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting 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 the consensus estimate of $21.59 billion. During the same period in the previous year, the business earned $0.31 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. Analysts anticipate that Energy Transfer LP will post 1.32 EPS for the current year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were issued a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.54%. Energy Transfer’s payout ratio is currently 94.85%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in shares of Energy Transfer by 32.3% during the second quarter. Bank of New York Mellon Corp now owns 94,442 shares of the pipeline company’s stock valued at $1,532,000 after acquiring an additional 23,079 shares during the period. Natixis Advisors LLC purchased a new stake in Energy Transfer in the 2nd quarter worth approximately $419,000. National Bank of Canada FI boosted its stake in shares of Energy Transfer by 5.5% during the 2nd quarter. National Bank of Canada FI now owns 28,942 shares of the pipeline company’s stock valued at $473,000 after buying an additional 1,500 shares during the period. Strategic Financial Concepts LLC increased its stake in shares of Energy Transfer by 1,610.2% in the second quarter. Strategic Financial Concepts LLC now owns 722,096 shares of the pipeline company’s stock worth $117,000 after acquiring an additional 679,872 shares during the last quarter. Finally, Wedbush Securities Inc. increased its holdings in Energy Transfer by 28.5% in the second quarter. Wedbush Securities Inc. now owns 87,942 shares of the pipeline company’s stock worth $1,426,000 after buying an additional 19,528 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other 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.