Energy Transfer (NYSE:ET) Stock Price Up 2.6% - Still a Buy?

Energy Transfer LP (NYSE:ET - Get Free Report) shares rose 2.6% during mid-day trading on Thursday . The company traded as high as $17.36 and last traded at $17.37. Approximately 3,908,168 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 15,167,372 shares. The stock had previously closed at $16.92.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $23.00 price target on shares of Energy Transfer in a research report on Tuesday, March 25th. Stifel Nicolaus raised their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. UBS Group reiterated a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. Barclays upped their price target on Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. Finally, Citigroup reaffirmed a "buy" rating on shares of Energy Transfer in a research note on Monday, March 24th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, Energy Transfer currently has a consensus rating of "Moderate Buy" and an average target price of $22.09.

Energy Transfer Stock Down 4.1 %

The business's 50 day moving average is $18.24 and its 200-day moving average is $18.47. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The company has a market cap of $56.86 billion, a PE ratio of 12.95, a P/E/G ratio of 0.64 and a beta of 1.32.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. As a group, analysts predict that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a $0.325 dividend. This is a boost from Energy Transfer's previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 7.85%. Energy Transfer's dividend payout ratio is presently 101.56%.

Hedge Funds Weigh In On Energy Transfer

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