Energy Transfer (NYSE:ET) Trading 0.6% Higher

Energy Transfer LP (NYSE:ET)’s share price rose 0.6% during mid-day trading on Thursday . The stock traded as high as $15.63 and last traded at $15.58. Approximately 2,613,086 shares were traded during trading, a decline of 78% from the average daily volume of 12,146,226 shares. The stock had previously closed at $15.48.

Analysts Set New Price Targets

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

Energy Transfer Trading Up 0.8 %

The company’s 50 day simple moving average is $15.44 and its two-hundred day simple moving average is $14.38. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $53.57 billion, a price-to-earnings ratio of 14.59 and a beta of 1.63.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The firm had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $21.46 billion. During the same quarter last year, the firm earned $0.34 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. As a group, research analysts anticipate that Energy Transfer LP will post 1.56 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be issued a dividend of $0.317 per share. The ex-dividend date is Friday, May 10th. This represents a $1.27 annualized dividend and a dividend yield of 7.97%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is 115.60%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. First Reserve GP XIII Ltd acquired a new position in shares of Energy Transfer in the fourth quarter valued at about $322,097,000. Alps Advisors Inc. increased its holdings in Energy Transfer by 14.5% in the 3rd quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock worth $1,033,541,000 after buying an additional 9,341,798 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Energy Transfer by 38.3% during 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 lifted its stake in Energy Transfer by 18.5% during the 4th quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock valued at $350,845,000 after acquiring an additional 3,976,676 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings 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 acquiring 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.