Energy Transfer (NYSE:ET) Shares Up 1.1% – Here’s Why

Shares of Energy Transfer LP (NYSE:ETGet Free Report) were up 1.1% on Friday . The company traded as high as $19.82 and last traded at $19.6560. Approximately 16,970,570 shares changed hands during trading, an increase of 8% from the average daily volume of 15,644,400 shares. The stock had previously closed at $19.44.

Energy Transfer News Summary

Here are the key news stories impacting Energy Transfer this week:

Analyst Ratings Changes

Several equities research analysts have commented on ET shares. Royal Bank Of Canada raised Energy Transfer to a “moderate buy” rating in a report on Monday, December 15th. Barclays reaffirmed an “overweight” rating and issued a $22.00 price target (down from $25.00) on shares of Energy Transfer in a research report on Monday, January 12th. Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a research note on Friday, January 16th. Morgan Stanley increased their price objective on shares of Energy Transfer from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 10th. Finally, Wells Fargo & Company raised their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and an average price target of $21.60.

Read Our Latest Stock Report on Energy Transfer

Energy Transfer Trading Up 1.1%

The firm has a market capitalization of $67.62 billion, a PE ratio of 16.24, a P/E/G ratio of 1.10 and a beta of 0.63. The firm has a 50 day simple moving average of $18.55 and a 200 day simple moving average of $17.41. The company has a current ratio of 1.22, a quick ratio of 0.90 and a debt-to-equity ratio of 1.50.

Energy Transfer (NYSE:ETGet Free Report) last posted its quarterly earnings results on Tuesday, February 17th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.09). The business had revenue of $25.32 billion during the quarter, compared to analysts’ expectations of $23.56 billion. Energy Transfer had a return on equity of 10.17% and a net margin of 5.11%.The firm’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.29 EPS. Equities analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Friday, February 6th were given a $0.335 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, February 6th. This represents a $1.34 dividend on an annualized basis and a yield of 6.8%. Energy Transfer’s payout ratio is presently 110.74%.

Institutional Trading of Energy Transfer

A number of institutional investors have recently made changes to their positions in ET. Basepoint Wealth LLC purchased a new position in shares of Energy Transfer during the fourth quarter valued at approximately $25,000. Gables Capital Management Inc. boosted its holdings in Energy Transfer by 60.0% in the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 600 shares during the last quarter. Sarver Vrooman Wealth Advisors bought a new stake in Energy Transfer in the 4th quarter worth approximately $32,000. Financial Life Planners bought a new stake in Energy Transfer in the 3rd quarter worth approximately $34,000. Finally, Navalign LLC purchased a new stake in Energy Transfer during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Company Profile

(Get Free Report)

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.

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