Energy Transfer (NYSE:ET) Trading Up 1.6% – Time to Buy?

Energy Transfer LP (NYSE:ET) rose 1.6% during mid-day trading on Wednesday . The company traded as high as $21.45 and last traded at $21.25. Approximately 7,234,168 shares traded hands during trading, a decline of 51% from the average daily volume of 14,760,646 shares. The stock had previously closed at $20.91.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ET shares. Wells Fargo & Company boosted their price target on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Royal Bank of Canada upped their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. The Goldman Sachs Group lifted their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Bank of America started coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective for the company. Finally, Barclays lifted their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.82.

Energy Transfer Stock Performance

The stock’s 50-day moving average is $19.31 and its 200-day moving average is $17.31. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The stock has a market cap of $71.68 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 0.55 and a beta of 1.70.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. During the same period in the prior year, the firm posted $0.31 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. Analysts anticipate that Energy Transfer LP will post 1.37 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a $0.3225 dividend. This represents a $1.29 annualized dividend and a dividend yield of 6.16%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio is currently 94.85%.

Institutional Investors Weigh In On Energy Transfer

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC acquired a new stake in Energy Transfer in the 4th quarter valued at $29,000. Princeton Global Asset Management LLC grew its stake in shares of Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after buying an additional 650 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after buying an additional 1,668 shares during the period. Financial Life Planners acquired a new position in Energy Transfer during the 4th quarter worth approximately $37,000. Finally, HWG Holdings LP purchased a new position in Energy Transfer in the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

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.