Energy Transfer (NYSE:ET) Trading Up 0.4% – Time to Buy?

Energy Transfer LP (NYSE:ET) shares shot up 0.4% on Wednesday . The company traded as high as $18.82 and last traded at $18.81. 1,631,148 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 14,526,048 shares. The stock had previously closed at $18.73.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ET shares. Wells Fargo & Company boosted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Morgan Stanley upped their price objective on Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Royal Bank of Canada reissued an “outperform” rating and set a $23.00 target price on shares of Energy Transfer in a research report on Tuesday, March 25th. Barclays upped their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, Stifel Nicolaus raised their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.09.

Energy Transfer Stock Performance

The stock has a market cap of $64.82 billion, a PE ratio of 14.76, a P/E/G ratio of 0.64 and a beta of 1.72. The firm’s 50-day moving average is $19.38 and its 200 day moving average is $18.43. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12.

Energy Transfer (NYSE:ET) last announced its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. As a group, research analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid a $0.325 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a dividend yield of 6.88%. The ex-dividend date was Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is 101.56%.

Institutional Investors Weigh In On Energy Transfer

Several large investors have recently modified their holdings of ET. Watts Gwilliam & Co. LLC purchased a new position in Energy Transfer during the 4th quarter worth $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in shares of Energy Transfer by 4.0% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock worth $148,621,000 after acquiring an additional 293,088 shares during the period. Forvis Mazars Wealth Advisors LLC raised its holdings in Energy Transfer by 164.1% during the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company’s stock worth $1,186,000 after purchasing an additional 37,633 shares in the last quarter. Paragon Capital Management Ltd lifted its position in Energy Transfer by 435.5% in the fourth quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock valued at $1,346,000 after purchasing an additional 55,890 shares during the period. Finally, FFG Partners LLC boosted its holdings in Energy Transfer by 0.9% in the 4th quarter. FFG Partners LLC now owns 1,650,574 shares of the pipeline company’s stock valued at $32,335,000 after purchasing an additional 13,948 shares in the last quarter. Hedge funds and other 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.