Energy Transfer (NYSE:ET) Shares Up 1.1% – Here’s What Happened

Energy Transfer LP (NYSE:ET) was up 1.1% on Thursday . The stock traded as high as $19.27 and last traded at $19.1550. 7,341,778 shares were traded during trading, a decline of 50% from the average daily volume of 14,701,520 shares. The stock had previously closed at $18.94.

Analysts Set New Price Targets

ET has been the subject of a number of research reports. Barclays reiterated an “overweight” rating and issued a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 14th. UBS Group restated a “buy” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Raymond James Financial reiterated a “strong-buy” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Finally, Jefferies Financial Group raised shares of Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $23.45.

Energy Transfer Stock Down 0.1%

The stock has a 50 day simple moving average of $19.44 and a 200-day simple moving average of $18.50. The firm has a market cap of $65.95 billion, a PE ratio of 15.97, a PEG ratio of 1.11 and a beta of 0.55. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The company had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $25.78 billion. During the same period in the prior year, the company posted $0.36 earnings per share. The company’s revenue was up 32.1% on a year-over-year basis. Sell-side analysts predict that Energy Transfer LP will post 1.43 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were paid a $0.3375 dividend. This represents a $1.35 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date was Friday, May 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio (DPR) is presently 112.50%.

Institutional Trading of Energy Transfer

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Basepoint Wealth LLC bought a new position in shares of Energy Transfer in the fourth quarter worth approximately $25,000. Gables Capital Management Inc. raised its holdings in Energy Transfer by 60.0% in the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 600 shares during the last quarter. Sarver Vrooman Wealth Advisors bought a new position in Energy Transfer in the 4th quarter valued at approximately $32,000. Financial Life Planners purchased a new position in shares of Energy Transfer in the third quarter worth $34,000. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of Energy Transfer in the first quarter worth $35,000. 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.