Energy Transfer (NYSE:ET) Trading Up 0.3%

Energy Transfer LP (NYSE:ET) shares were up 0.3% during trading on Monday . The company traded as high as $16.07 and last traded at $16.00. Approximately 2,541,231 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 12,157,062 shares. The stock had previously closed at $15.96.

Analysts Set New Price Targets

A number of analysts have commented on ET shares. Mizuho restated a “buy” rating and issued a $19.00 price target (up previously from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. UBS Group reduced their price target on Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. Finally, Citigroup upped their price target on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Energy Transfer Price Performance

The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88. The firm has a 50-day moving average of $15.36 and a 200-day moving average of $14.33. The stock has a market cap of $53.91 billion, a PE ratio of 14.68 and a beta of 1.64.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.08. The firm had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The firm’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the business posted $0.34 earnings per share. Research analysts predict that Energy Transfer LP will post 1.57 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be issued a dividend of $0.317 per share. This represents a $1.27 annualized dividend and a yield of 7.93%. The ex-dividend date of this dividend is Friday, May 10th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is currently 115.60%.

Hedge Funds Weigh In On Energy Transfer

Institutional investors have recently added to or reduced their stakes in the company. First Reserve GP XIII Ltd bought a new stake in shares of Energy Transfer in the 4th quarter valued at approximately $322,097,000. Alps Advisors Inc. lifted its stake in shares of Energy Transfer by 14.5% in the 3rd quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock valued at $1,033,541,000 after purchasing an additional 9,341,798 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake 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 valued at $353,576,000 after purchasing an additional 7,097,074 shares during the last quarter. Clearbridge Investments LLC lifted its stake 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 valued at $350,845,000 after purchasing an additional 3,976,676 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Energy Transfer by 1,447.6% in the 4th quarter. International Assets Investment Management LLC now owns 3,756,955 shares of the pipeline company’s stock valued at $518,460,000 after purchasing an additional 3,514,195 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.