Energy Transfer (NYSE:ET) Shares Up 1% – What’s Next?

Energy Transfer LP (NYSE:ET)’s stock price rose 1% on Friday . The stock traded as high as $19.95 and last traded at $20.03. Approximately 2,762,272 shares changed hands during trading, a decline of 84% from the average daily volume of 16,818,891 shares. The stock had previously closed at $19.82.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ET. Barclays increased their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Stifel Nicolaus increased their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday. Bank of America started coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. Royal Bank of Canada increased their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, The Goldman Sachs Group boosted their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $21.18.

Energy Transfer Stock Performance

The firm has a market cap of $68.02 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 0.52 and a beta of 1.69. The firm’s 50 day moving average is $19.76 and its 200-day moving average is $17.74. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. Sell-side analysts anticipate that Energy Transfer LP will post 1.37 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be given a dividend of $0.325 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a yield of 6.54%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is presently 94.85%.

Hedge Funds Weigh In On Energy Transfer

A number of institutional investors have recently modified their holdings of ET. Mountain Hill Investment Partners Corp. acquired a new position in Energy Transfer in the 4th quarter valued at $25,000. Princeton Global Asset Management LLC grew its position in shares of Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares during the last quarter. Assetmark Inc. increased its stake in shares of Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares during the period. GAMMA Investing LLC acquired a new position in shares of Energy Transfer during the 4th quarter worth about $29,000. Finally, United Community Bank bought a new stake in Energy Transfer during the 4th quarter valued at approximately $35,000. 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.