Energy Transfer (NYSE:ET) Trading 3.3% Higher – Here’s What Happened

Energy Transfer LP (NYSE:ET) shares traded up 3.3% during trading on Tuesday . The company traded as high as $17.03 and last traded at $16.40. 9,743,786 shares changed hands during trading, a decline of 35% from the average session volume of 14,942,960 shares. The stock had previously closed at $15.87.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ET shares. 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. Wells Fargo & Company upped their target price on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Stifel Nicolaus raised their target price on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Barclays boosted their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a report on Monday, March 24th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.09.

Energy Transfer Stock Performance

The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The stock’s 50 day simple moving average is $19.10 and its two-hundred day simple moving average is $18.46. The company has a market capitalization of $54.37 billion, a P/E ratio of 12.40, a P/E/G ratio of 0.64 and a beta of 1.32.

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

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a $0.325 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a dividend yield of 8.20%. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is currently 101.56%.

Hedge Funds Weigh In On Energy Transfer

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kovitz Investment Group Partners LLC grew its holdings in Energy Transfer by 830.5% during the third quarter. Kovitz Investment Group Partners LLC now owns 301,291 shares of the pipeline company’s stock valued at $4,695,000 after purchasing an additional 268,912 shares during the period. EP Wealth Advisors LLC boosted its position in shares of Energy Transfer by 50.7% during the third quarter. EP Wealth Advisors LLC now owns 61,493 shares of the pipeline company’s stock worth $987,000 after purchasing an additional 20,699 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Energy Transfer by 56.8% in the 3rd quarter. National Bank of Canada FI now owns 45,381 shares of the pipeline company’s stock valued at $728,000 after buying an additional 16,439 shares during the period. Zacks Investment Management acquired a new position in shares of Energy Transfer in the 3rd quarter valued at $181,000. Finally, MML Investors Services LLC increased its position in shares of Energy Transfer by 2.4% in the 3rd quarter. MML Investors Services LLC now owns 109,984 shares of the pipeline company’s stock valued at $1,765,000 after buying an additional 2,620 shares in the last quarter. 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.