Energy Transfer (NYSE:ET) Trading Up 1.1% Following Analyst Upgrade

Energy Transfer LP (NYSE:ET) shares shot up 1.1% during trading on Tuesday after Mizuho raised their price target on the stock from $19.00 to $20.00. Mizuho currently has a buy rating on the stock. Energy Transfer traded as high as $15.53 and last traded at $15.49. 3,169,075 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 11,964,505 shares. The stock had previously closed at $15.32.

Several other analysts have also recently commented on ET. UBS Group lifted their price target on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Citigroup boosted their target price on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Morgan Stanley boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Finally, Stifel Nicolaus boosted their target price on Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Institutional Trading of Energy Transfer

A number of institutional investors have recently modified their holdings of ET. Northwest Financial Advisors purchased a new position in Energy Transfer in the 4th quarter worth approximately $25,000. Rise Advisors LLC boosted its holdings in Energy Transfer by 88.2% in 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 during the period. LRI Investments LLC purchased a new position in Energy Transfer in the 1st quarter worth approximately $29,000. Atlantic Edge Private Wealth Management LLC purchased a new position in Energy Transfer in the 4th quarter worth approximately $33,000. Finally, Harbor Investment Advisory LLC boosted its holdings in Energy Transfer by 42.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 750 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

The stock has a fifty day simple moving average of $15.67 and a two-hundred day simple moving average of $14.89. The stock has a market cap of $52.22 billion, a PE ratio of 14.22, a PEG ratio of 0.42 and a beta of 1.63. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The business had revenue of $21.63 billion during the quarter, compared to analyst estimates of $20.91 billion. During the same period in the previous year, the company earned $0.32 earnings per share. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. Equities analysts anticipate that Energy Transfer LP will post 1.43 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were given a $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 8.18%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, May 10th. Energy Transfer’s dividend payout ratio is presently 116.51%.

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.