Energy Transfer (NYSE:ET) Sets New 1-Year High at $16.44

Energy Transfer LP (NYSE:ET)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $16.44 and last traded at $16.43, with a volume of 1248755 shares traded. The stock had previously closed at $16.36.

Analyst Upgrades and Downgrades

ET has been the topic of a number of analyst reports. UBS Group increased their price target on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. JPMorgan Chase & Co. increased their price target on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. Stifel Nicolaus increased their price target on Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Mizuho increased their price target on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Finally, Morgan Stanley upped their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.29.

Energy Transfer Price Performance

The firm has a market capitalization of $55.50 billion, a price-to-earnings ratio of 15.01, a P/E/G ratio of 0.44 and a beta of 1.66. The company’s 50 day moving average is $15.73 and its 200-day moving average is $15.02. 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 issued its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). The firm had revenue of $21.63 billion during the quarter, compared to analyst estimates of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter last year, the business posted $0.32 earnings per share. Equities research analysts anticipate that Energy Transfer LP will post 1.45 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were given a dividend of $0.317 per share. The ex-dividend date was Friday, May 10th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a yield of 7.70%. Energy Transfer’s dividend payout ratio (DPR) is 116.51%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ET. Rehmann Capital Advisory Group increased its stake in Energy Transfer by 2.0% in the first quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock valued at $505,000 after acquiring an additional 633 shares during the last quarter. Sfmg LLC increased its stake in Energy Transfer by 2.2% in the first quarter. Sfmg LLC now owns 31,406 shares of the pipeline company’s stock valued at $494,000 after acquiring an additional 674 shares during the last quarter. FinTrust Capital Advisors LLC increased its stake in Energy Transfer by 3.6% in the first quarter. FinTrust Capital Advisors LLC now owns 20,201 shares of the pipeline company’s stock valued at $318,000 after acquiring an additional 700 shares during the last quarter. Essex Financial Services Inc. increased its stake in Energy Transfer by 2.2% in the first quarter. Essex Financial Services Inc. now owns 33,569 shares of the pipeline company’s stock valued at $528,000 after acquiring an additional 708 shares during the last quarter. Finally, Veracity Capital LLC grew its stake in shares of Energy Transfer by 2.2% during the first quarter. Veracity Capital LLC now owns 32,916 shares of the pipeline company’s stock worth $518,000 after buying an additional 713 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

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.