UBS Group Raises Energy Transfer (NYSE:ET) Price Target to $24.00

Energy Transfer (NYSE:ET) had its price objective hoisted by UBS Group from $23.00 to $24.00 in a research report released on Wednesday, Benzinga reports. UBS Group currently has a buy rating on the pipeline company’s stock.

Other analysts have also recently issued reports about the stock. Citigroup increased their target price on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a buy rating in a research note on Wednesday, February 21st. Mizuho reiterated a buy rating and issued a $19.00 price objective (up previously from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. Finally, Stifel Nicolaus boosted their target price on Energy Transfer from $18.00 to $19.00 and gave the stock a buy rating in a research report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $18.43.

Energy Transfer Price Performance

Energy Transfer stock opened at $15.96 on Wednesday. The business’s 50 day simple moving average is $15.69 and its 200 day simple moving average is $14.55. Energy Transfer has a 12 month low of $12.31 and a 12 month high of $16.40. The company has a market cap of $53.79 billion, a price-to-earnings ratio of 14.64 and a beta of 1.63. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.04). The business had revenue of $21.63 billion for 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%. Energy Transfer’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period last year, the company earned $0.32 earnings per share. Sell-side analysts forecast that Energy Transfer will post 1.54 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be given a dividend of $0.317 per share. This represents a $1.27 dividend on an annualized basis and a yield of 7.94%. The ex-dividend date is Friday, May 10th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is 116.51%.

Institutional Trading of Energy Transfer

Institutional investors have recently bought and sold shares of the company. Tidal Investments LLC increased its holdings in Energy Transfer by 12.9% in the 1st quarter. Tidal Investments LLC now owns 86,196 shares of the pipeline company’s stock worth $1,342,000 after buying an additional 9,849 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of Energy Transfer by 5.9% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 848,936 shares of the pipeline company’s stock worth $13,354,000 after buying an additional 47,324 shares during the last quarter. Avenir Corp grew its holdings in shares of Energy Transfer by 1.4% in the first quarter. Avenir Corp now owns 451,019 shares of the pipeline company’s stock worth $7,095,000 after acquiring an additional 6,314 shares during the period. WPWealth LLP increased its position in Energy Transfer by 18.1% during the first quarter. WPWealth LLP now owns 12,266 shares of the pipeline company’s stock valued at $193,000 after acquiring an additional 1,881 shares during the last quarter. Finally, Invenomic Capital Management LP purchased a new position in Energy Transfer in the first quarter worth about $17,205,000. 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.