Energy Transfer (NYSE:ET) Stock Price Up 0.3%

Energy Transfer LP (NYSE:ET)’s stock price rose 0.3% during mid-day trading on Thursday . The stock traded as high as $15.62 and last traded at $15.59. Approximately 3,128,075 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 12,445,783 shares. The stock had previously closed at $15.54.

Analyst Upgrades and Downgrades

ET has been the subject of several research analyst reports. UBS Group cut their price objective on Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. Citigroup increased their price objective on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.57.

Energy Transfer Trading Up 1.2 %

The firm has a market cap of $53.00 billion, a PE ratio of 14.43 and a beta of 1.64. The business has a 50-day moving average price of $14.72 and a two-hundred day moving average price of $14.04. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The business had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $21.46 billion. During the same quarter last year, the business posted $0.34 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. Analysts forecast that Energy Transfer LP will post 1.44 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Wednesday, February 7th were given a $0.315 dividend. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 8.01%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.31. Energy Transfer’s dividend payout ratio (DPR) is currently 115.60%.

Institutional Trading of Energy Transfer

Large investors have recently made changes to their positions in the stock. Mutual Advisors LLC boosted its stake in shares of Energy Transfer by 112.9% during the fourth quarter. Mutual Advisors LLC now owns 146,943 shares of the pipeline company’s stock valued at $2,028,000 after acquiring an additional 77,938 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Energy Transfer by 230.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 736,634 shares of the pipeline company’s stock worth $10,335,000 after buying an additional 513,989 shares during the last quarter. Fractal Investments LLC boosted its stake in Energy Transfer by 12.9% in the 3rd quarter. Fractal Investments LLC now owns 5,682,061 shares of the pipeline company’s stock worth $79,719,000 after buying an additional 647,885 shares during the last quarter. Cutter & CO Brokerage Inc. boosted its stake in Energy Transfer by 22.5% in the 3rd quarter. Cutter & CO Brokerage Inc. now owns 421,372 shares of the pipeline company’s stock worth $5,912,000 after buying an additional 77,352 shares during the last quarter. Finally, Hodges Capital Management Inc. acquired a new stake in Energy Transfer in the 3rd quarter worth about $3,936,000. Institutional investors and hedge funds 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.