Energy Transfer (NYSE:ET) Trading 1.2% Higher – Should You Buy?

Energy Transfer LP (NYSE:ET)’s stock price shot up 1.2% during mid-day trading on Tuesday . The stock traded as high as $20.50 and last traded at $20.4380. 11,935,444 shares changed hands during trading, a decline of 26% from the average session volume of 16,160,011 shares. The stock had previously closed at $20.19.

Analysts Set New Price Targets

A number of research analysts recently commented on ET shares. Truist Financial started coverage on Energy Transfer in a report on Tuesday, March 24th. They issued a “buy” rating and a $23.00 price target on the stock. Citigroup reaffirmed a “buy” rating and set a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 7th. TD Cowen reiterated a “buy” rating and set a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research report on Wednesday, May 13th. JPMorgan Chase & Co. boosted their target price on shares of Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Finally, Wells Fargo & Company upped their target price 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, ten have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $22.73.

Energy Transfer Stock Down 0.6%

The company has a market cap of $68.97 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 1.21 and a beta of 0.57. The company has a fifty day moving average of $19.33 and a two-hundred day moving average of $18.05. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.93 and a current ratio of 1.17.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.05). Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The firm had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $25.78 billion. During the same period in the previous year, the firm earned $0.36 earnings per share. The firm’s quarterly revenue was up 32.1% compared to the same quarter last year. As a group, analysts anticipate that Energy Transfer LP will post 1.37 earnings per share 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 dividend of $0.3375 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 6.7%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio is presently 112.50%.

Institutional Trading of Energy Transfer

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ET. Keybank National Association OH grew its stake in shares of Energy Transfer by 0.3% during the first quarter. Keybank National Association OH now owns 219,232 shares of the pipeline company’s stock valued at $4,231,000 after buying an additional 556 shares during the last quarter. Mountain Capital Investment Advisors Inc. raised its holdings in shares of Energy Transfer by 4.9% in the fourth quarter. Mountain Capital Investment Advisors Inc. now owns 12,007 shares of the pipeline company’s stock worth $216,000 after buying an additional 560 shares during the period. Marks Wealth LLC lifted its stake in shares of Energy Transfer by 4.7% during the 4th quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company’s stock worth $207,000 after acquiring an additional 560 shares during the last quarter. Citizens Financial Group Inc. RI lifted its stake in shares of Energy Transfer by 2.4% during the 1st quarter. Citizens Financial Group Inc. RI now owns 23,978 shares of the pipeline company’s stock worth $463,000 after acquiring an additional 562 shares during the last quarter. Finally, Avos Capital Management LLC boosted its holdings in Energy Transfer by 0.8% during the 4th quarter. Avos Capital Management LLC now owns 76,695 shares of the pipeline company’s stock valued at $1,265,000 after acquiring an additional 583 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

About Energy Transfer

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.