Energy Transfer (NYSE:ET) Stock Price Up 0.4%

Energy Transfer LP (NYSE:ET)’s share price was up 0.4% during trading on Monday . The company traded as high as $15.73 and last traded at $15.72. Approximately 4,549,465 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 13,348,526 shares. The stock had previously closed at $15.66.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective 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. Stifel Nicolaus lifted their price target on Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Morgan Stanley boosted their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Mizuho raised their target price on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Finally, UBS Group upped their price target on Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and an average price target of $19.29.

Energy Transfer Price Performance

The stock has a market cap of $52.44 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 0.42 and a beta of 1.66. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37. The business’s 50-day simple moving average is $15.95 and its two-hundred day simple moving average is $15.51.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The company had revenue of $20.73 billion during the quarter, compared to the consensus estimate of $22.01 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. Energy Transfer’s revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 earnings per share. Sell-side analysts expect that Energy Transfer LP will post 1.49 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 19th. Stockholders of record on Friday, August 9th will be issued a dividend of $0.32 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.28 annualized dividend and a dividend yield of 8.23%. Energy Transfer’s payout ratio is presently 117.43%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ET. Hsbc Holdings PLC purchased a new stake in shares of Energy Transfer in the 2nd quarter valued at $290,000. Blair William & Co. IL boosted its position in Energy Transfer by 9.2% during the second quarter. Blair William & Co. IL now owns 449,772 shares of the pipeline company’s stock valued at $7,295,000 after buying an additional 37,927 shares during the period. O Brien Greene & Co. Inc bought a new position in shares of Energy Transfer during the second quarter valued at about $248,000. Bradley Foster & Sargent Inc. CT increased its holdings in shares of Energy Transfer by 25.0% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 12,990 shares of the pipeline company’s stock worth $211,000 after buying an additional 2,600 shares during the period. Finally, Total Clarity Wealth Management Inc. lifted its stake in shares of Energy Transfer by 14.0% in the 2nd quarter. Total Clarity Wealth Management Inc. now owns 19,333 shares of the pipeline company’s stock valued at $314,000 after acquiring an additional 2,377 shares during the last quarter. 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.