Energy Transfer (NYSE:ET) Price Target Raised to $22.00

Energy Transfer (NYSE:ET) had its target price boosted by Citigroup from $20.00 to $22.00 in a research report released on Tuesday, Marketbeat Ratings reports. They currently have a buy rating on the pipeline company’s stock.

Several other brokerages have also recently commented on ET. Barclays boosted their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Stifel Nicolaus lifted their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group upped their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Wells Fargo & Company boosted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada boosted their target price 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. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.55.

Energy Transfer Price Performance

Shares of ET opened at $18.94 on Tuesday. The stock’s 50-day moving average price is $19.91 and its two-hundred day moving average price is $17.99. Energy Transfer has a 1 year low of $14.52 and a 1 year high of $21.45. The stock has a market cap of $65.00 billion, a P/E ratio of 14.80, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. On average, equities analysts predict that Energy Transfer will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were paid a dividend of $0.325 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 6.86%. Energy Transfer’s dividend payout ratio (DPR) is currently 101.56%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ET. Mountain Hill Investment Partners Corp. purchased a new stake in Energy Transfer in the fourth quarter worth approximately $25,000. Capital A Wealth Management LLC purchased a new stake in shares of Energy Transfer in the 4th quarter valued at $26,000. GAMMA Investing LLC bought a new position in shares of Energy Transfer during the 4th quarter valued at $29,000. Fourth Dimension Wealth LLC purchased a new position in Energy Transfer in the 4th quarter worth $29,000. Finally, Princeton Global Asset Management LLC lifted its stake in Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 650 shares during 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.