Energy Transfer (NYSE:ET) Shares Up 0.1% – Here’s Why

Energy Transfer LP (NYSE:ET) shot up 0.1% during trading on Monday . The stock traded as high as $19.35 and last traded at $19.08. 6,024,627 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 13,613,294 shares. The stock had previously closed at $19.07.

Analysts Set New Price Targets

ET has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their price target on Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. UBS Group raised their target price on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Bank of America assumed coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Energy Transfer currently has an average rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Stock Down 0.6 %

The firm has a market cap of $64.92 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 0.61 and a beta of 1.66. 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 stock’s 50 day moving average is $16.66 and its 200 day moving average is $16.18.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The company had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the firm earned $0.31 EPS. Analysts forecast that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a $0.3225 dividend. This represents a $1.29 annualized dividend and a yield of 6.80%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Institutional Trading of Energy Transfer

Several institutional investors and hedge funds have recently added to or reduced their stakes in ET. Princeton Global Asset Management LLC increased its holdings 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. grew 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 worth $28,000 after acquiring an additional 1,668 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Energy Transfer during the first quarter worth $29,000. HWG Holdings LP purchased a new stake in shares of Energy Transfer during the second quarter valued at $33,000. Finally, Continuum Advisory LLC boosted its position in shares of Energy Transfer by 44.8% in the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 729 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

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.