Energy Transfer (NYSE:ET) Trading Up 1.2% Following Dividend Announcement

Shares of Energy Transfer LP (NYSE:ET) were up 1.2% during mid-day trading on Tuesday following a dividend announcement from the company. The stock traded as high as $20.11 and last traded at $20.05. Approximately 5,262,764 shares traded hands during trading, a decline of 69% from the average daily volume of 17,081,656 shares. The stock had previously closed at $19.81.

The newly announced dividend which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be paid a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 6.38%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, February 7th. Energy Transfer’s payout ratio is presently 94.85%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Royal Bank of Canada raised 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. Wells Fargo & Company lifted their target price on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Bank of America assumed coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. The Goldman Sachs Group lifted their price objective on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Finally, Barclays increased their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.82.

Energy Transfer Price Performance

The company has a market capitalization of $69.72 billion, a price-to-earnings ratio of 14.97, a P/E/G ratio of 0.55 and a beta of 1.70. The stock has a fifty day simple moving average of $19.43 and a 200-day simple moving average of $17.39. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $21.59 billion. During the same quarter in the prior year, the firm posted $0.31 earnings per share. The company’s revenue was up .2% compared to the same quarter last year. On average, equities research analysts anticipate that Energy Transfer LP will post 1.37 EPS for the current year.

Institutional Trading of Energy Transfer

A number of institutional investors and hedge funds have recently modified their holdings of ET. Wealthstar Advisors LLC purchased a new stake in shares of Energy Transfer during the fourth quarter worth $692,000. Legacy Financial Strategies LLC grew its stake in Energy Transfer by 10.9% during the 4th quarter. Legacy Financial Strategies LLC now owns 20,391 shares of the pipeline company’s stock valued at $402,000 after acquiring an additional 2,000 shares in the last quarter. Newbridge Financial Services Group Inc. raised its holdings in Energy Transfer by 63.2% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 77,088 shares of the pipeline company’s stock valued at $1,510,000 after acquiring an additional 29,851 shares during the last quarter. Stephens Inc. AR lifted its stake in Energy Transfer by 4.2% in the 4th quarter. Stephens Inc. AR now owns 1,201,288 shares of the pipeline company’s stock worth $23,533,000 after purchasing an additional 48,736 shares in the last quarter. Finally, Stockman Wealth Management Inc. boosted its holdings in shares of Energy Transfer by 1.0% during the 4th quarter. Stockman Wealth Management Inc. now owns 59,666 shares of the pipeline company’s stock worth $1,169,000 after purchasing an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Company Profile

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.