Energy Transfer (NYSE:ET) Trading Up 1.5% – Here’s Why

Energy Transfer LP (NYSE:ET)’s stock price was up 1.5% during trading on Monday . The company traded as high as $19.23 and last traded at $19.13. Approximately 17,110,665 shares were traded during mid-day trading, an increase of 7% from the average daily volume of 16,017,832 shares. The stock had previously closed at $18.84.

Analyst Ratings Changes

A number of brokerages have issued reports on ET. Jefferies Financial Group restated a “hold” rating on shares of Energy Transfer in a research report on Wednesday, February 18th. JPMorgan Chase & Co. decreased their price target on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Monday, November 24th. UBS Group restated a “buy” rating on shares of Energy Transfer in a research report on Wednesday, January 7th. TD Cowen boosted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Finally, Barclays reissued an “overweight” rating and issued a $22.00 target price (down from $25.00) on shares of Energy Transfer in a research note on Monday, January 12th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $21.20.

Energy Transfer Stock Performance

The company has a current ratio of 1.22, a quick ratio of 0.90 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $65.81 billion, a PE ratio of 15.81, a PEG ratio of 0.97 and a beta of 0.63. The firm’s 50-day simple moving average is $17.67 and its 200-day simple moving average is $17.21.

Energy Transfer (NYSE:ET) last issued its earnings results on Tuesday, February 17th. The pipeline company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.09). The company had revenue of $25.32 billion for the quarter, compared to analysts’ expectations of $23.56 billion. Energy Transfer had a return on equity of 10.17% and a net margin of 5.11%.The business’s revenue was up 29.6% compared to the same quarter last year. During the same period last year, the business posted $0.29 earnings per share. On average, research analysts predict 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 Thursday, February 19th. Shareholders of record on Friday, February 6th were given a dividend of $0.335 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, February 6th. This represents a $1.34 dividend on an annualized basis and a yield of 7.0%. Energy Transfer’s dividend payout ratio is presently 110.74%.

Hedge Funds Weigh In On Energy Transfer

Several institutional investors have recently made changes to their positions in ET. Morgan Stanley lifted its stake in Energy Transfer by 41.6% in the fourth quarter. Morgan Stanley now owns 86,310,272 shares of the pipeline company’s stock worth $1,423,256,000 after acquiring an additional 25,366,594 shares during the period. CIBC Bancorp USA Inc. bought a new stake in shares of Energy Transfer in the 3rd quarter valued at about $264,309,000. Alps Advisors Inc. raised its holdings in shares of Energy Transfer by 8.0% in the 4th quarter. Alps Advisors Inc. now owns 83,843,087 shares of the pipeline company’s stock valued at $1,382,573,000 after purchasing an additional 6,192,066 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Energy Transfer by 9.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,353,476 shares of the pipeline company’s stock worth $387,139,000 after purchasing an additional 1,825,391 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Energy Transfer by 3.2% during the third quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company’s stock valued at $992,923,000 after purchasing an additional 1,773,042 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

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.