Energy Transfer (NYSE:ET) Shares Up 1.2% Following Dividend Announcement

Energy Transfer LP (NYSE:ETGet Free Report) shot up 1.2% on Tuesday following a dividend announcement from the company. The company traded as high as $20.11 and last traded at $20.05. 5,262,764 shares changed hands during trading, a decline of 69% from the average session volume of 17,081,656 shares. The stock had previously closed at $19.81.

The newly announced dividend which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be issued a $0.325 dividend. The ex-dividend date of this dividend is Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a yield of 6.38%. Energy Transfer’s dividend payout ratio is 94.85%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ET. Barclays lifted their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Royal Bank of Canada upped their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. The Goldman Sachs Group raised their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Bank of America started coverage on Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target on the stock. Finally, Wells Fargo & Company increased their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus target price of $20.82.

Read Our Latest Stock Report on Energy Transfer

Energy Transfer Price Performance

The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The company has a fifty day moving average of $19.43 and a 200 day moving average of $17.39. The firm has a market capitalization of $69.72 billion, a P/E ratio of 14.97, a PEG ratio of 0.55 and a beta of 1.70.

Energy Transfer (NYSE:ETGet Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The firm had revenue of $20.77 billion during 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%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the company posted $0.31 EPS. Sell-side analysts predict that Energy Transfer LP will post 1.37 earnings per share for the current year.

Institutional Trading of Energy Transfer

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC increased its position in shares of Energy Transfer by 65.0% during the third 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. boosted its holdings in shares of 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 buying an additional 1,668 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Energy Transfer during the 4th quarter worth approximately $29,000. Financial Life Planners purchased a new position in shares of Energy Transfer during the 4th quarter valued at $37,000. Finally, Sugarloaf Wealth Management LLC increased its stake in shares of Energy Transfer by 43.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 750 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

Energy Transfer Company Profile

(Get Free Report)

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.

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