Energy Transfer (NYSE:ET) Shares Up 1.8% – Here’s Why

Energy Transfer LP (NYSE:ET)’s share price shot up 1.8% during trading on Friday . The stock traded as high as $18.04 and last traded at $18.00. 3,237,762 shares changed hands during trading, a decline of 79% from the average session volume of 15,485,659 shares. The stock had previously closed at $17.67.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ET. Royal Bank of Canada restated an “outperform” rating and set a $23.00 target price on shares of Energy Transfer in a research report on Tuesday, March 25th. Mizuho raised their target price on Energy Transfer from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 20th. Morgan Stanley raised their price target on Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Finally, Stifel Nicolaus raised their price target on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.64.

Energy Transfer Price Performance

The company has a 50 day moving average price of $17.20 and a 200 day moving average price of $18.62. The company has a market capitalization of $61.57 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 0.64 and a beta of 0.78. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. The company had revenue of $21.02 billion during the quarter, compared to analysts’ expectations of $22.28 billion. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period last year, the firm earned $0.32 EPS. As a group, equities research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were paid a $0.3275 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a dividend yield of 7.30%. The ex-dividend date of this dividend was Friday, May 9th. Energy Transfer’s dividend payout ratio (DPR) is 99.24%.

Institutional Investors Weigh In On Energy Transfer

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Energy Transfer during the fourth quarter worth $25,000. Capital A Wealth Management LLC acquired a new stake in shares of Energy Transfer during the fourth quarter worth $26,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Energy Transfer during the fourth quarter worth $29,000. Vision Financial Markets LLC acquired a new stake in shares of Energy Transfer during the first quarter worth $33,000. Finally, United Community Bank acquired a new stake in shares of Energy Transfer during the fourth quarter worth $35,000. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Company Profile

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.