Energy Transfer (NYSE:ET) Trading Up 1.1% Following Analyst Upgrade

Energy Transfer LP (NYSE:ETGet Free Report)’s stock price traded up 1.1% on Tuesday after Mizuho raised their price target on the stock from $19.00 to $20.00. Mizuho currently has a buy rating on the stock. Energy Transfer traded as high as $15.53 and last traded at $15.49. 3,169,075 shares traded hands during trading, a decline of 74% from the average session volume of 11,964,505 shares. The stock had previously closed at $15.32.

Several other brokerages also recently weighed in on ET. Stifel Nicolaus raised their price target on Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Citigroup raised their price target on Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. UBS Group lifted their price objective on Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Finally, Morgan Stanley lifted their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Energy Transfer presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

View Our Latest Analysis on Energy Transfer

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Northwest Financial Advisors purchased a new position in Energy Transfer in the fourth quarter worth about $25,000. Rise Advisors LLC boosted its position in Energy Transfer by 88.2% in the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 927 shares during the last quarter. LRI Investments LLC purchased a new position in Energy Transfer in the first quarter worth about $29,000. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Energy Transfer during the 4th quarter valued at about $33,000. Finally, Harbor Investment Advisory LLC lifted its position in shares of Energy Transfer by 42.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after buying an additional 750 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Trading Up 1.1 %

The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. The stock has a market capitalization of $52.20 billion, a PE ratio of 14.21, a PEG ratio of 0.42 and a beta of 1.63. The stock has a 50-day moving average price of $15.67 and a two-hundred day moving average price of $14.87.

Energy Transfer (NYSE:ETGet Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The company had revenue of $21.63 billion for the quarter, compared to analysts’ expectations of $20.91 billion. During the same period in the previous year, the firm earned $0.32 earnings per share. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. As a group, equities analysts forecast that Energy Transfer LP will post 1.43 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were given a dividend of $0.317 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 dividend on an annualized basis and a dividend yield of 8.19%. The ex-dividend date of this dividend was Friday, May 10th. Energy Transfer’s payout ratio is presently 116.51%.

Energy Transfer Company Profile

(Get Free Report)

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.

Further Reading

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