Energy Transfer (NYSE:ET) Sets New 1-Year High – Should You Buy?

Energy Transfer LP (NYSE:ET)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $19.43 and last traded at $19.3940, with a volume of 2572767 shares traded. The stock had previously closed at $19.06.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ET shares. JPMorgan Chase & Co. dropped their price objective on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Monday, November 24th. Morgan Stanley lifted their target price on shares of Energy Transfer from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, March 10th. Royal Bank Of Canada raised Energy Transfer to a “moderate buy” rating in a research report on Monday, December 15th. Jefferies Financial Group restated a “hold” rating on shares of Energy Transfer in a research note on Wednesday, February 18th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Energy Transfer in a research report on Wednesday, December 24th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Energy Transfer currently has a consensus rating of “Moderate Buy” and an average target price of $21.73.

Energy Transfer Stock Performance

The company has a market capitalization of $66.62 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 1.05 and a beta of 0.63. The company has a current ratio of 1.22, a quick ratio of 0.90 and a debt-to-equity ratio of 1.50. The business’s fifty day moving average is $18.40 and its two-hundred day moving average is $17.35.

Energy Transfer (NYSE:ET) last issued its earnings results on Tuesday, February 17th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.09). The business had revenue of $25.32 billion for the quarter, compared to analysts’ expectations of $23.56 billion. Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. The business’s revenue for the quarter was up 29.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.29 earnings per share. Equities research analysts predict 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 Thursday, February 19th. Stockholders of record on Friday, February 6th were paid a $0.335 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, February 6th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 6.9%. Energy Transfer’s dividend payout ratio (DPR) is 110.74%.

Institutional Trading of Energy Transfer

Hedge funds have recently bought and sold shares of the company. Basepoint Wealth LLC bought a new position in Energy Transfer in the fourth quarter valued at about $25,000. Gables Capital Management Inc. grew its stake in shares of Energy Transfer by 60.0% during the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 600 shares during the period. Sarver Vrooman Wealth Advisors purchased a new stake in shares of Energy Transfer during the 4th quarter valued at about $32,000. Financial Life Planners purchased a new stake in shares of Energy Transfer during the 3rd quarter valued at about $34,000. Finally, Navalign LLC bought a new position in shares of Energy Transfer in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.