Energy Transfer LP (NYSE:ET – Get Free Report) traded up 0.6% during trading on Wednesday after Royal Bank of Canada raised their price target on the stock from $19.00 to $20.00. Royal Bank of Canada currently has an outperform rating on the stock. Energy Transfer traded as high as $16.48 and last traded at $16.47. 1,199,445 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 13,101,706 shares. The stock had previously closed at $16.37.
A number of other analysts also recently issued reports on ET. Mizuho raised their target price on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. JPMorgan Chase & Co. raised their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Finally, UBS Group lifted their price objective on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $20.00.
Check Out Our Latest Analysis on Energy Transfer
Insider Buying and Selling
Institutional Trading of Energy Transfer
Large investors have recently bought and sold shares of the stock. LRI Investments LLC acquired a new position in shares of Energy Transfer during the 1st quarter worth approximately $29,000. HWG Holdings LP acquired a new position in shares of Energy Transfer during the 2nd quarter worth approximately $33,000. Sugarloaf Wealth Management LLC increased 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 purchasing an additional 750 shares during the last quarter. Hudson Edge Investment Partners Inc. acquired a new position in shares of Energy Transfer during the 2nd quarter worth approximately $42,000. Finally, EdgeRock Capital LLC acquired a new position in shares of Energy Transfer during the 2nd quarter worth approximately $42,000. 38.22% of the stock is currently owned by institutional investors.
Energy Transfer Price Performance
The stock has a market cap of $55.57 billion, a price-to-earnings ratio of 15.13, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66. The company has a 50-day simple moving average of $16.09 and a two-hundred day simple moving average of $15.94. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14.
Energy Transfer (NYSE:ET – Get Free Report) last issued its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The business had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $22.01 billion. During the same quarter in the prior year, the firm posted $0.25 earnings per share. The business’s revenue was up 13.1% compared to the same quarter last year. As a group, equities research analysts forecast that Energy Transfer LP will post 1.35 EPS for the current year.
Energy Transfer Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were paid a $0.32 dividend. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a yield of 7.76%. Energy Transfer’s payout ratio is 117.43%.
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.
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