Energy Transfer (NYSE:ET) Trading Up 1.3% After Analyst Upgrade

Energy Transfer LP (NYSE:ET) shares rose 1.3% on Tuesday after Barclays raised their price target on the stock from $22.00 to $25.00. Barclays currently has an overweight rating on the stock. Energy Transfer traded as high as $19.82 and last traded at $19.72. Approximately 2,793,387 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 13,024,881 shares. The stock had previously closed at $19.47.

ET has been the topic of a number of other research reports. UBS Group boosted their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Wells Fargo & Company boosted their price target on shares of 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 raised their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. The Goldman Sachs Group boosted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Finally, Bank of America started coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and an average target price of $20.82.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new stake in shares of Energy Transfer in the fourth quarter valued at $29,000. Princeton Global Asset Management LLC grew its position in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 650 shares in the last quarter. Assetmark Inc. increased its stake in Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares during the period. HWG Holdings LP acquired a new stake in shares of Energy Transfer during the second quarter worth about $33,000. Finally, Continuum Advisory LLC boosted its stake in shares of Energy Transfer by 44.8% in the third 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 currently owned by institutional investors and hedge funds.

Energy Transfer Stock Up 2.2 %

The business’s fifty day moving average is $18.85 and its two-hundred day moving average is $17.12. The stock has a market cap of $68.10 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 0.62 and a beta of 1.70. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $20.77 billion during 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 company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.31 earnings per share. Equities analysts forecast that Energy Transfer LP will post 1.32 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The business 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 dividend on an annualized basis and a yield of 6.49%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio is currently 94.85%.

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.