Energy Transfer (NYSE:ET) Trading 1.2% Higher Following Analyst Upgrade

Energy Transfer LP (NYSE:ET) shares were up 1.2% during mid-day trading on Wednesday 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 $19.07 and last traded at $19.12. Approximately 2,003,072 shares traded hands during trading, a decline of 86% from the average daily volume of 14,460,194 shares. The stock had previously closed at $18.88.

A number of other analysts have also recently weighed in on ET. Stifel Nicolaus upped their price target 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. Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Monday. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Barclays upped their price target on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, The Goldman Sachs Group lifted their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.09.

Institutional Trading of Energy Transfer

A number of hedge funds have recently made changes to their positions in ET. Stonegate Investment Group LLC boosted its stake in Energy Transfer by 1.4% during the 4th quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock valued at $672,000 after acquiring an additional 482 shares during the last quarter. Private Client Services LLC lifted its position in shares of Energy Transfer by 3.1% during the fourth quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock worth $331,000 after purchasing an additional 511 shares during the last quarter. United Advisor Group LLC grew its stake in Energy Transfer by 3.0% in the fourth quarter. United Advisor Group LLC now owns 18,540 shares of the pipeline company’s stock worth $363,000 after purchasing an additional 534 shares in the last quarter. Wealthspire Advisors LLC increased its holdings in Energy Transfer by 0.4% in the fourth quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock valued at $2,551,000 after buying an additional 535 shares during the last quarter. Finally, Cannell & Spears LLC raised its stake in Energy Transfer by 0.4% during the fourth quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company’s stock valued at $2,657,000 after buying an additional 546 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Price Performance

The stock has a market cap of $64.96 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 0.64 and a beta of 1.72. The company has a 50 day simple moving average of $19.52 and a 200-day simple moving average of $18.33. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET) last posted its quarterly 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 net margin of 5.74% and a return on equity of 11.56%. As a group, research analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a $0.325 dividend. The ex-dividend date of this dividend was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a dividend yield of 6.87%. Energy Transfer’s payout ratio is 101.56%.

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.