Energy Transfer (NYSE:ET) Price Target Raised to $21.00

Energy Transfer (NYSE:ET) had its target price hoisted by TD Cowen from $20.00 to $21.00 in a report released on Wednesday morning, Marketbeat Ratings reports. They currently have a buy rating on the pipeline company’s stock.

Several other equities research analysts have also recently issued reports on the company. Royal Bank Of Canada upgraded Energy Transfer to a “moderate buy” rating in a research note on Monday, December 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Energy Transfer in a research report on Wednesday, December 24th. Morgan Stanley decreased their price target on Energy Transfer from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 2nd. Barclays reaffirmed an “overweight” rating and set a $22.00 price target (down previously from $25.00) on shares of Energy Transfer in a report on Monday, January 12th. Finally, Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a research note on Friday, January 16th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.27.

Energy Transfer Stock Up 0.3%

Shares of ET opened at $18.96 on Wednesday. The firm has a market cap of $65.08 billion, a P/E ratio of 15.67, a price-to-earnings-growth ratio of 0.98 and a beta of 0.66. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.14 and a current ratio of 1.41. Energy Transfer has a 52 week low of $14.60 and a 52 week high of $19.88. The firm’s 50-day simple moving average is $17.43 and its 200 day simple moving average is $17.17.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, February 17th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.09). The firm had revenue of $25.32 billion for the quarter, compared to the consensus estimate of $23.56 billion. Energy Transfer had a return on equity of 10.38% and a net margin of 5.11%.The company’s revenue was up 29.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.29 EPS. On average, analysts forecast that Energy Transfer will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Friday, February 6th were paid a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date was Friday, February 6th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is currently 110.74%.

Hedge Funds Weigh In On Energy Transfer

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Basepoint Wealth LLC bought a new position in Energy Transfer in the 4th quarter valued at approximately $25,000. Gables Capital Management Inc. grew its position in shares of Energy Transfer by 60.0% in the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock valued at $26,000 after buying an additional 600 shares during the last quarter. Sarver Vrooman Wealth Advisors acquired a new stake in shares of Energy Transfer in the fourth quarter valued at about $32,000. CNB Bank raised its position in shares of Energy Transfer by 111.1% during the second quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Financial Life Planners bought a new position in shares of Energy Transfer during the third quarter worth about $34,000. Institutional investors and hedge funds 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.