Energy Transfer (NYSE:ET) Reaches New 1-Year High – Here’s Why

Energy Transfer LP (NYSE:ET) reached a new 52-week high on Monday . The stock traded as high as $19.86 and last traded at $19.6850, with a volume of 2692416 shares traded. The stock had previously closed at $19.67.

Analysts Set New Price Targets

Several analysts have commented on the company. Royal Bank Of Canada upgraded Energy Transfer to a “moderate buy” rating in a report on Monday, December 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Energy Transfer in a report on Wednesday, December 24th. Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a research report on Friday, January 16th. Morgan Stanley upped their price target on shares of Energy Transfer from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 10th. Finally, TD Cowen increased their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. One 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.60.

Energy Transfer Stock Up 0.0%

The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.90 and a current ratio of 1.22. The firm has a market cap of $67.69 billion, a PE ratio of 16.26, a PEG ratio of 1.10 and a beta of 0.63. The stock has a fifty day moving average price of $18.55 and a 200-day moving average price of $17.41.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, February 17th. The pipeline company reported $0.25 EPS 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 net margin of 5.11% and a return on equity of 10.17%. The company’s quarterly revenue was up 29.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.29 EPS. Research analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

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

Institutional Trading of Energy Transfer

Institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley raised its position in Energy Transfer by 41.6% in the fourth quarter. Morgan Stanley now owns 86,310,272 shares of the pipeline company’s stock valued at $1,423,256,000 after purchasing an additional 25,366,594 shares during the period. CIBC Bancorp USA Inc. acquired a new position in shares of Energy Transfer during the third quarter worth about $264,309,000. Alps Advisors Inc. boosted its position in shares of Energy Transfer by 8.0% in the fourth quarter. Alps Advisors Inc. now owns 83,843,087 shares of the pipeline company’s stock worth $1,382,573,000 after buying an additional 6,192,066 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Energy Transfer by 9.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,353,476 shares of the pipeline company’s stock valued at $387,139,000 after buying an additional 1,825,391 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Energy Transfer by 3.2% in the third quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company’s stock valued at $992,923,000 after buying an additional 1,773,042 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Company Profile

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.