Energy Transfer (NYSE:ET) Trading 1.3% Higher

Energy Transfer LP (NYSE:ET) rose 1.3% during trading on Friday . The company traded as high as $16.25 and last traded at $16.24. Approximately 2,871,730 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 11,814,023 shares. The stock had previously closed at $16.03.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ET shares. JPMorgan Chase & Co. lifted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. UBS Group boosted 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. Stifel Nicolaus raised their price objective on Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Morgan Stanley increased their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. Finally, Mizuho lifted their price objective on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $19.29.

Energy Transfer Trading Up 1.2 %

The company has a 50-day moving average price of $15.73 and a 200 day moving average price of $15.01. The stock has a market capitalization of $54.66 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 0.44 and a beta of 1.63. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The firm had revenue of $21.63 billion during the quarter, compared to the consensus estimate of $20.91 billion. During the same quarter in the prior year, the firm posted $0.32 earnings per share. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. On average, research analysts forecast that Energy Transfer LP will post 1.45 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were issued a $0.317 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a yield of 7.82%. The ex-dividend date of this dividend was Friday, May 10th. Energy Transfer’s payout ratio is currently 116.51%.

Institutional Trading of Energy Transfer

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Northwest Financial Advisors purchased a new stake in Energy Transfer in the fourth quarter valued at about $25,000. LRI Investments LLC purchased a new position in shares of Energy Transfer in the 1st quarter valued at approximately $29,000. Rise Advisors LLC boosted its stake 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 purchasing an additional 927 shares in the last quarter. Atlantic Edge Private Wealth Management LLC purchased a new stake in Energy Transfer during the 4th quarter worth approximately $33,000. Finally, Harbor Investment Advisory LLC increased its stake in Energy Transfer by 42.9% during 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 in the last quarter. 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.