Energy Transfer (NYSE:ET) Shares Up 1.4% – Time to Buy?

Shares of Energy Transfer LP (NYSE:ET) were up 1.4% on Wednesday . The company traded as high as $21.01 and last traded at $21.06. Approximately 3,490,723 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 17,175,264 shares. The stock had previously closed at $20.77.

Analyst Ratings Changes

Several research firms have 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. The Goldman Sachs Group boosted their price objective on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Royal Bank of Canada raised their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Wells Fargo & Company raised 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. Finally, Bank of America initiated coverage on Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective for the company. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.82.

Energy Transfer Stock Up 1.3 %

The business has a fifty day moving average of $19.66 and a 200 day moving average of $17.57. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The stock has a market capitalization of $72.02 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 0.54 and a beta of 1.69.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same period in the previous year, the firm earned $0.31 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities analysts predict that Energy Transfer LP will post 1.36 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.18%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, February 7th. Energy Transfer’s payout ratio is 95.59%.

Institutional Investors Weigh In On Energy Transfer

Institutional investors and hedge funds have recently modified their holdings of the stock. Terril Brothers Inc. boosted its holdings in Energy Transfer by 0.4% during the fourth quarter. Terril Brothers Inc. now owns 178,916 shares of the pipeline company’s stock valued at $3,505,000 after purchasing an additional 750 shares in the last quarter. Sage Investment Counsel LLC acquired a new stake in shares of Energy Transfer during the fourth quarter worth $2,685,000. SVB Wealth LLC bought a new stake in shares of Energy Transfer in the fourth quarter worth $458,000. Mills Wealth Advisors LLC raised its stake in shares of Energy Transfer by 61.4% during the 4th quarter. Mills Wealth Advisors LLC now owns 18,325 shares of the pipeline company’s stock worth $359,000 after purchasing an additional 6,970 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its position in Energy Transfer by 12.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 37,550 shares of the pipeline company’s stock worth $736,000 after buying an additional 4,217 shares during the last quarter. Institutional investors and hedge funds 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.