Energy Transfer (NYSE:ET) Stock Price Up 1.7% – Should You Buy?

Energy Transfer LP (NYSE:ET) shares traded up 1.7% during trading on Tuesday . The stock traded as high as $19.49 and last traded at $19.37. 2,695,479 shares changed hands during trading, a decline of 80% from the average session volume of 13,706,745 shares. The stock had previously closed at $19.04.

Wall Street Analysts Forecast Growth

ET has been the subject of several recent research reports. Wells Fargo & Company increased their price target on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Barclays boosted their price target on shares of Energy Transfer from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. The Goldman Sachs Group increased their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Bank of America assumed coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, UBS Group increased their price target on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.55.

Energy Transfer Trading Up 2.9 %

The business has a 50 day moving average of $17.98 and a two-hundred day moving average of $16.73. The firm has a market capitalization of $67.11 billion, a price-to-earnings ratio of 14.41, a P/E/G ratio of 0.63 and a beta of 1.70. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. The company had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. Energy Transfer’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 earnings per share. Equities analysts predict that Energy Transfer LP will post 1.32 EPS for the current year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were given a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 6.58%. The ex-dividend date was Friday, November 8th. Energy Transfer’s payout ratio is presently 94.85%.

Institutional Trading of Energy Transfer

Several institutional investors and hedge funds have recently modified their holdings of the stock. Princeton Global Asset Management LLC grew its stake in shares of Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 650 shares in the last quarter. Assetmark Inc. grew its position in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares in the last quarter. HWG Holdings LP purchased a new stake in Energy Transfer in the 2nd quarter valued at about $33,000. Sugarloaf Wealth Management LLC lifted its position in shares of Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after buying an additional 750 shares in the last quarter. Finally, Continuum Advisory LLC boosted its stake in shares of Energy Transfer by 44.8% in the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after buying an additional 729 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

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.