Energy Transfer LP (NYSE:ET – Get Free Report)’s stock price rose 0.1% during mid-day trading on Tuesday . The stock traded as high as $16.45 and last traded at $16.40. Approximately 3,914,729 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 11,794,211 shares. The stock had previously closed at $16.39.
Analyst Upgrades and Downgrades
ET has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Morgan Stanley raised their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. UBS Group boosted their target price on Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Stifel Nicolaus lifted their price target on Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Finally, Mizuho upped their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.29.
Energy Transfer Stock Performance
The company has a market cap of $55.07 billion, a PE ratio of 15.05, a PEG ratio of 0.44 and a beta of 1.66. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37. The business’s 50 day moving average is $15.83 and its two-hundred day moving average is $15.21.
Energy Transfer (NYSE:ET – Get Free Report) last issued its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The business had revenue of $21.63 billion for the quarter, compared to the consensus estimate of $20.91 billion. During the same period last year, the business posted $0.32 EPS. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. On average, equities research analysts anticipate that Energy Transfer LP will post 1.45 EPS for the current year.
Energy Transfer Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were issued a $0.317 dividend. This represents a $1.27 annualized dividend and a dividend yield of 7.76%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, May 10th. Energy Transfer’s payout ratio is 116.51%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of ET. Wedmont Private Capital raised its position in Energy Transfer by 35.0% during the fourth quarter. Wedmont Private Capital now owns 23,811 shares of the pipeline company’s stock valued at $333,000 after purchasing an additional 6,168 shares during the period. Daymark Wealth Partners LLC lifted its position in Energy Transfer by 12.4% in the fourth quarter. Daymark Wealth Partners LLC now owns 15,267 shares of the pipeline company’s stock worth $211,000 after buying an additional 1,689 shares during the last quarter. Sound Income Strategies LLC boosted its stake in Energy Transfer by 23.8% during the fourth quarter. Sound Income Strategies LLC now owns 9,700 shares of the pipeline company’s stock worth $134,000 after buying an additional 1,866 shares during the period. Cornerstone Wealth Management LLC boosted its stake in Energy Transfer by 2.1% during the fourth quarter. Cornerstone Wealth Management LLC now owns 37,195 shares of the pipeline company’s stock worth $513,000 after buying an additional 776 shares during the period. Finally, Veery Capital LLC bought a new position in Energy Transfer during the fourth quarter valued at $159,000. 38.22% of the stock is 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.