Energy Transfer (NYSE:ET) Trading 0.9% Higher – Still a Buy?

Energy Transfer LP (NYSE:ET)’s stock price rose 0.9% during mid-day trading on Monday . The company traded as high as $20.76 and last traded at $20.67. Approximately 4,563,595 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 17,386,166 shares. The stock had previously closed at $20.48.

Wall Street Analyst Weigh In

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

Energy Transfer Trading Up 1.5 %

The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $71.18 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 0.54 and a beta of 1.69. The company’s fifty day simple moving average is $19.59 and its two-hundred day simple moving average is $17.51.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the company posted $0.31 EPS. Research analysts forecast that Energy Transfer LP will post 1.36 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be given a dividend of $0.325 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a dividend yield of 6.25%. The ex-dividend date is Friday, February 7th. Energy Transfer’s dividend payout ratio is currently 94.85%.

Institutional Trading of Energy Transfer

A number of institutional investors have recently made changes to their positions in ET. Princeton Global Asset Management LLC boosted its position in Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Energy Transfer by 2,138.5% in 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 last quarter. GAMMA Investing LLC bought a new position in shares of Energy Transfer in the fourth quarter valued at $29,000. Financial Life Planners acquired a new position in Energy Transfer during the fourth quarter worth $37,000. Finally, Citizens National Bank Trust Department bought a new stake in Energy Transfer during the fourth quarter worth $39,000. 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.