Energy Transfer (NYSE:ET) Stock Price Up 2.3% – Should You Buy?

Shares of Energy Transfer LP (NYSE:ET) were up 2.3% on Friday . The stock traded as high as $17.03 and last traded at $17.0110. Approximately 15,679,938 shares changed hands during trading, an increase of 5% from the average daily volume of 14,940,261 shares. The stock had previously closed at $16.63.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ET shares. Wells Fargo & Company restated an “overweight” rating and set a $23.00 price target (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Jefferies Financial Group set a $17.00 target price on shares of Energy Transfer and gave the stock a “hold” rating in a report on Tuesday, October 28th. Barclays reiterated an “overweight” rating and set a $25.00 price target on shares of Energy Transfer in a report on Wednesday, October 15th. Morgan Stanley cut their price target on shares of Energy Transfer from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. Finally, Scotiabank decreased their price objective on shares of Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating on the stock in a research report on Thursday. Thirteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $22.08.

Energy Transfer Stock Up 2.3%

The company’s fifty day simple moving average is $16.95 and its 200 day simple moving average is $17.39. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $58.41 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 1.01 and a beta of 0.76.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The company had revenue of $19.95 billion for the quarter, compared to the consensus estimate of $21.84 billion. During the same period in the previous year, the firm posted $0.32 EPS. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. Research analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Friday, November 7th will be paid a $0.3325 dividend. The ex-dividend date of this dividend is Friday, November 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 annualized dividend and a yield of 7.8%. Energy Transfer’s payout ratio is currently 106.40%.

Insider Transactions at Energy Transfer

In other news, Director Kelcy L. Warren acquired 1,350,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was acquired at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the transaction, the director owned 69,178,477 shares of the company’s stock, valued at $1,200,938,360.72. This represents a 1.99% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Energy Transfer

Several hedge funds have recently added to or reduced their stakes in the stock. Ryan Investment Management Inc. purchased a new position in shares of Energy Transfer in the 2nd quarter worth about $31,000. Vision Financial Markets LLC purchased a new position in Energy Transfer in the first quarter worth about $33,000. CNB Bank raised its holdings in Energy Transfer by 111.1% in the second quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock worth $34,000 after buying an additional 1,000 shares during the last quarter. Financial Life Planners bought a new position in shares of Energy Transfer in the third quarter worth approximately $34,000. Finally, Stone House Investment Management LLC purchased a new stake in shares of Energy Transfer during the first quarter valued at approximately $38,000. 38.22% of the stock is owned by institutional investors.

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.