Energy Transfer (NYSE:ET) Shares Up 2.1% – Here’s What Happened

Energy Transfer LP (NYSE:ET) shares shot up 2.1% on Tuesday . The stock traded as high as $17.37 and last traded at $17.17. 4,281,804 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 15,225,568 shares. The stock had previously closed at $16.82.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Barclays boosted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. UBS Group restated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Citigroup reiterated a “buy” rating on shares of Energy Transfer in a report on Monday, March 24th. Morgan Stanley lifted their target price on shares of Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 price objective on shares of Energy Transfer in a research note on Tuesday, March 25th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.09.

Energy Transfer Stock Up 1.5 %

The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The firm’s fifty day simple moving average is $18.47 and its 200 day simple moving average is $18.44. The stock has a market capitalization of $58.61 billion, a price-to-earnings ratio of 13.34, a P/E/G ratio of 0.64 and a beta of 1.32.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. On average, sell-side analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.61%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is presently 101.56%.

Institutional Trading of Energy Transfer

A number of institutional investors have recently bought and sold shares of the business. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Energy Transfer during the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC bought a new position in shares of Energy Transfer in the 4th quarter valued at $26,000. GAMMA Investing LLC acquired a new position in shares of Energy Transfer during the 4th quarter worth $29,000. Fourth Dimension Wealth LLC bought a new stake in shares of Energy Transfer during the 4th quarter worth $29,000. Finally, United Community Bank acquired a new stake in Energy Transfer in the fourth quarter valued at about $35,000. 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.