Energy Transfer (NYSE:ET) Reaches New 1-Year High at $16.08

Shares of Energy Transfer LP (NYSE:ET) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $16.08 and last traded at $16.08, with a volume of 2023150 shares trading hands. The stock had previously closed at $15.89.

Analyst Ratings Changes

ET has been the topic of a number of recent research reports. Citigroup upped their target price on Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Mizuho reiterated a “buy” rating and issued a $19.00 price target (up from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. Finally, UBS Group cut their price target on Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, February 15th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Energy Transfer has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Energy Transfer Trading Up 0.7 %

The firm has a market capitalization of $53.91 billion, a price-to-earnings ratio of 14.68 and a beta of 1.63. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.88 and a current ratio of 1.10. The business has a fifty day moving average price of $15.46 and a 200 day moving average price of $14.40.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The business had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $21.46 billion. During the same period in the prior year, the firm posted $0.34 EPS. The business’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities analysts forecast that Energy Transfer LP will post 1.56 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be issued a $0.317 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a yield of 7.93%. The ex-dividend date is Friday, May 10th. Energy Transfer’s dividend payout ratio is currently 115.60%.

Institutional Trading of Energy Transfer

Large investors have recently added to or reduced their stakes in the stock. Northwest Financial Advisors purchased a new position in Energy Transfer in the 4th quarter valued at about $25,000. Rise Advisors LLC lifted its position in shares of Energy Transfer by 88.2% during the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 927 shares during the last quarter. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Energy Transfer during the fourth quarter worth about $33,000. Harbor Investment Advisory LLC lifted its position in shares of Energy Transfer by 42.9% during the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 750 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new position in shares of Energy Transfer during the fourth quarter worth about $34,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

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.