Energy Transfer (NYSE:ET) Shares Up 0.4%

Energy Transfer LP (NYSE:ET)’s stock price rose 0.4% during trading on Wednesday . The stock traded as high as $16.23 and last traded at $16.19. Approximately 2,918,973 shares traded hands during trading, a decline of 76% from the average daily volume of 12,084,430 shares. The stock had previously closed at $16.13.

Analyst Upgrades and Downgrades

Several research firms recently commented on ET. UBS Group reduced their price objective on Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Mizuho reissued a “buy” rating and issued a $19.00 price objective (up previously from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. Stifel Nicolaus raised their price target on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Citigroup upped their price target on Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.14.

Energy Transfer Trading Up 0.1 %

The company’s 50 day moving average price is $15.55 and its 200 day moving average price is $14.44. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88. The firm has a market cap of $53.64 billion, a PE ratio of 14.89 and a beta of 1.63.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.04). Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The firm had revenue of $21.63 billion during the quarter, compared to analyst estimates of $20.91 billion. During the same period last year, the business earned $0.32 EPS. The firm’s revenue was up 13.9% compared to the same quarter last year. As a group, analysts forecast that Energy Transfer LP will post 1.56 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be issued a dividend of $0.317 per share. This represents a $1.27 dividend on an annualized basis and a yield of 7.96%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, May 10th. Energy Transfer’s payout ratio is 116.51%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ET. Northwest Financial Advisors purchased a new position in Energy Transfer in the fourth quarter valued at approximately $25,000. Rise Advisors LLC raised its stake in Energy Transfer by 88.2% during the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock worth $27,000 after acquiring an additional 927 shares in the last quarter. Atlantic Edge Private Wealth Management LLC purchased a new stake in Energy Transfer in the fourth quarter valued at $33,000. Harbor Investment Advisory LLC lifted its holdings in shares of Energy Transfer by 42.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 750 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Energy Transfer in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors 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.