Energy Transfer (NYSE:ET) Shares Up 1.4% – Here’s What Happened

Energy Transfer LP (NYSE:ET) was up 1.4% during mid-day trading on Thursday . The stock traded as high as $20.47 and last traded at $20.3740. Approximately 12,890,934 shares were traded during trading, a decline of 21% from the average daily volume of 16,337,571 shares. The stock had previously closed at $20.10.

Analysts Set New Price Targets

Several analysts have recently issued reports on ET shares. Morgan Stanley upped their target price on shares of Energy Transfer from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 10th. JPMorgan Chase & Co. increased their price objective on shares of Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Tuesday. Raymond James Financial reissued a “strong-buy” rating on shares of Energy Transfer in a research report on Wednesday, May 6th. Stifel Nicolaus increased their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company increased their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, March 13th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $22.75.

Energy Transfer Price Performance

The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $70.11 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 1.12 and a beta of 0.57. The stock’s 50-day moving average is $19.14 and its two-hundred day moving average is $17.91.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The firm had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $25.78 billion. Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The business’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same period last year, the company earned $0.36 earnings per share. On average, equities analysts predict that Energy Transfer LP will post 1.47 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th will be paid a $0.3375 dividend. The ex-dividend date is Friday, May 8th. This represents a $1.35 dividend on an annualized basis and a yield of 6.6%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s payout ratio is currently 112.50%.

Hedge Funds Weigh In On Energy Transfer

A number of hedge funds have recently added to or reduced their stakes in the stock. Compound Planning Inc. bought a new position in Energy Transfer in the 1st quarter worth about $392,000. Mizuho Markets Americas LLC bought a new position in Energy Transfer in the 1st quarter worth about $61,760,000. Bank of Nova Scotia bought a new position in Energy Transfer in the 1st quarter worth about $630,000. Davis R M Inc. bought a new position in Energy Transfer in the 1st quarter worth about $307,000. Finally, State of Wyoming grew its stake in Energy Transfer by 85.3% in the 1st quarter. State of Wyoming now owns 22,274 shares of the pipeline company’s stock worth $430,000 after acquiring an additional 10,252 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

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.