Energy Transfer (NYSE:ET) Shares Up 1.4% – What’s Next?

Energy Transfer LP (NYSE:ETGet Free Report)’s stock price shot up 1.4% during trading on Thursday . The company traded as high as $19.45 and last traded at $19.4120. 10,357,835 shares were traded during mid-day trading, a decline of 34% from the average session volume of 15,620,309 shares. The stock had previously closed at $19.14.

Energy Transfer News Summary

Here are the key news stories impacting Energy Transfer this week:

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ET shares. TD Cowen upped their price objective on Energy Transfer from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Barclays reiterated an “overweight” rating and issued a $22.00 price target (down from $25.00) on shares of Energy Transfer in a report on Monday, January 12th. Wells Fargo & Company raised their price objective on Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, March 13th. Royal Bank Of Canada raised shares of Energy Transfer to a “moderate buy” rating in a report on Monday, December 15th. Finally, Truist Financial began coverage on shares of Energy Transfer in a research note on Tuesday. They set a “buy” rating and a $23.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $21.60.

Check Out Our Latest Research Report on Energy Transfer

Energy Transfer Stock Performance

The company has a market capitalization of $66.78 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 1.07 and a beta of 0.63. The stock has a 50 day simple moving average of $18.47 and a 200 day simple moving average of $17.37. The company has a quick ratio of 0.90, a current ratio of 1.22 and a debt-to-equity ratio of 1.50.

Energy Transfer (NYSE:ETGet Free Report) last announced its quarterly earnings results on Tuesday, February 17th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.09). Energy Transfer had a return on equity of 10.17% and a net margin of 5.11%.The company had revenue of $25.32 billion during the quarter, compared to the consensus estimate of $23.56 billion. During the same period last year, the business posted $0.29 EPS. The company’s revenue for the quarter was up 29.6% on a year-over-year basis. As a group, analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Friday, February 6th were paid a $0.335 dividend. The ex-dividend date was Friday, February 6th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.34 dividend on an annualized basis and a yield of 6.9%. Energy Transfer’s dividend payout ratio (DPR) is 110.74%.

Hedge Funds Weigh In On Energy Transfer

Institutional investors have recently modified their holdings of the company. Basepoint Wealth LLC bought a new stake in Energy Transfer in the 4th quarter valued at about $25,000. Gables Capital Management Inc. raised its holdings in shares of Energy Transfer by 60.0% during the fourth 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 position in shares of Energy Transfer during the fourth quarter worth approximately $32,000. Financial Life Planners bought a new position in Energy Transfer in the 3rd quarter worth approximately $34,000. Finally, Navalign LLC bought a new stake in Energy Transfer during the 4th quarter valued at $37,000. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Company Profile

(Get Free Report)

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.

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