Energy Transfer (NYSE:ET) Stock Price Up 0.1% After Analyst Upgrade

Energy Transfer LP (NYSE:ET) shares shot up 0.1% on Tuesday after Morgan Stanley raised their price target on the stock from $20.00 to $26.00. Morgan Stanley currently has an overweight rating on the stock. Energy Transfer traded as high as $19.13 and last traded at $18.91. 2,978,205 shares were traded during trading, a decline of 79% from the average session volume of 14,513,480 shares. The stock had previously closed at $18.88.

A number of other research analysts also recently weighed in on ET. Barclays upped their target price on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Stifel Nicolaus raised their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Wells Fargo & Company lifted 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. Royal Bank of Canada boosted their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, UBS Group reissued a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.09.

Institutional Investors Weigh In On Energy Transfer

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Energy Transfer in the fourth quarter worth $25,000. Capital A Wealth Management LLC purchased a new position in shares of Energy Transfer in the fourth quarter worth $26,000. GAMMA Investing LLC bought a new stake in Energy Transfer in the 4th quarter valued at $29,000. Fourth Dimension Wealth LLC purchased a new stake in Energy Transfer in the 4th quarter worth $29,000. Finally, United Community Bank bought a new position in shares of Energy Transfer during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The firm’s fifty day simple moving average is $19.54 and its 200 day simple moving average is $18.33. The firm has a market cap of $64.75 billion, a P/E ratio of 14.74, a P/E/G ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data 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%. As a group, analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were issued a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 6.89%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. Energy Transfer’s dividend payout ratio is presently 101.56%.

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.