Energy Transfer LP (NYSE:ET – Get Free Report)’s share price traded up 0.4% during trading on Tuesday . The stock traded as high as $16.00 and last traded at $15.98. 1,950,132 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 11,860,398 shares. The stock had previously closed at $15.91.
Analysts Set New Price Targets
Several equities analysts have recently commented on the company. Stifel Nicolaus upped their target price on Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Morgan Stanley lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Mizuho boosted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. UBS Group boosted their target price on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Energy Transfer currently has an average rating of “Moderate Buy” and a consensus price target of $19.29.
Energy Transfer Trading Up 0.6 %
The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00. The stock has a market capitalization of $53.92 billion, a PE ratio of 14.65, a PEG ratio of 0.43 and a beta of 1.63. The stock’s 50 day simple moving average is $15.68 and its two-hundred day simple moving average is $14.94.
Energy Transfer (NYSE:ET – Get Free Report) last released its earnings results 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). The company had revenue of $21.63 billion during the quarter, compared to analysts’ expectations of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The firm’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 earnings per share. On average, sell-side analysts expect that Energy Transfer LP will post 1.43 EPS for the current year.
Energy Transfer Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were paid 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 7.93%. The ex-dividend date of this dividend was Friday, May 10th. Energy Transfer’s dividend payout ratio is presently 116.51%.
Institutional Trading of Energy Transfer
Institutional investors have recently modified their holdings of the business. Alps Advisors Inc. increased its holdings in Energy Transfer by 14.5% during the 3rd quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock worth $1,033,541,000 after acquiring an additional 9,341,798 shares during the period. UBS Group AG increased its holdings in Energy Transfer by 13.3% during the 4th quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company’s stock worth $395,270,000 after acquiring an additional 3,368,427 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Energy Transfer by 38.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock worth $353,576,000 after buying an additional 7,097,074 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of Energy Transfer by 18.5% in the 4th quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock worth $350,845,000 after buying an additional 3,976,676 shares during the last quarter. Finally, First Reserve GP XIII Ltd bought a new position in shares of Energy Transfer in the 4th quarter worth $322,097,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.
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.