Energy Transfer (NYSE:ET) Shares Up 2.8% - Here's What Happened

Energy Transfer LP (NYSE:ET - Get Free Report)'s share price shot up 2.8% during trading on Friday . The company traded as high as $18.69 and last traded at $18.69. 3,363,337 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 17,715,738 shares. The stock had previously closed at $18.17.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ET shares. The Goldman Sachs Group upped their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a "neutral" rating in a research note on Thursday, December 19th. Barclays lifted their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday, January 13th. Wells Fargo & Company boosted their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. 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 research note on Wednesday, February 12th. Finally, Citigroup lifted their price objective on Energy Transfer from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Energy Transfer presently has an average rating of "Moderate Buy" and a consensus target price of $21.55.

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Energy Transfer Stock Up 1.4 %

The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The firm has a market capitalization of $64.97 billion, a PE ratio of 14.79, a P/E/G ratio of 0.64 and a beta of 1.72. The business's 50 day moving average price is $19.62 and its 200-day moving average price is $18.23.

Energy Transfer (NYSE:ET - Get Free Report) last announced its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) 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, equities research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were issued a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 6.87%. This is a boost from Energy Transfer's previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. Energy Transfer's dividend payout ratio (DPR) is 101.56%.

Institutional Trading of Energy Transfer

A number of institutional investors and hedge funds have recently bought and sold shares of ET. Mountain Hill Investment Partners Corp. acquired a new position in shares of Energy Transfer in the fourth quarter valued at approximately $25,000. Capital A Wealth Management LLC purchased a new position in Energy Transfer in the 4th quarter valued at approximately $26,000. Assetmark Inc. grew its stake in shares of Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company's stock worth $28,000 after acquiring an additional 1,668 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Energy Transfer during the fourth quarter worth $29,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of Energy Transfer in the fourth quarter valued at $29,000. 38.22% of the stock is currently owned by hedge funds and other 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.