Mizuho Forecasts Strong Price Appreciation for Energy Transfer (NYSE:ET) Stock

Energy Transfer (NYSE:ET) had its price target raised by Mizuho from $22.00 to $23.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the pipeline company’s stock.

Several other equities analysts also recently issued reports on ET. Citigroup reissued a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. Morgan Stanley upped their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Stifel Nicolaus upped their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Energy Transfer from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Energy Transfer currently has an average rating of “Moderate Buy” and an average target price of $22.64.

Energy Transfer Stock Up 0.7%

Shares of NYSE ET opened at $18.12 on Tuesday. Energy Transfer has a 12-month low of $14.60 and a 12-month high of $21.45. The company has a market capitalization of $62.17 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 0.64 and a beta of 0.77. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The firm’s 50-day moving average is $17.47 and its two-hundred day moving average is $18.58.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. The business had revenue of $21.02 billion for the quarter, compared to the consensus estimate of $22.28 billion. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 earnings per share. Equities analysts anticipate that Energy Transfer will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were paid a dividend of $0.3275 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.31 dividend on an annualized basis and a yield of 7.23%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio (DPR) is currently 99.24%.

Hedge Funds Weigh In On Energy Transfer

Large investors have recently bought and sold shares of the stock. Mountain Hill Investment Partners Corp. purchased a new position in Energy Transfer during the fourth quarter worth approximately $25,000. Capital A Wealth Management LLC acquired a new stake in shares of Energy Transfer in the fourth quarter worth $26,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Energy Transfer in the fourth quarter worth $29,000. United Community Bank acquired a new stake in shares of Energy Transfer in the fourth quarter worth $35,000. Finally, Vision Financial Markets LLC acquired a new stake in shares of Energy Transfer in the first quarter worth $33,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

About Energy Transfer

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.