Shares of Energy Transfer LP (NYSE:ET - Get Free Report) rose 0.1% on Tuesday after Morgan Stanley raised their price target on the stock from $20.00 to $26.00. Morgan Stanley currently has an overweight rating on the stock. Energy Transfer traded as high as $19.13 and last traded at $18.91. Approximately 2,978,205 shares changed hands during trading, a decline of 79% from the average daily volume of 14,513,480 shares. The stock had previously closed at $18.88.
Several other analysts also recently commented on ET. Royal Bank of Canada upped their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. Barclays upped their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Wells Fargo & Company increased their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. The Goldman Sachs Group boosted their price target on Energy Transfer from $17.00 to $20.00 and gave the company a "neutral" rating in a research report on Thursday, December 19th. Finally, Stifel Nicolaus increased their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Energy Transfer has an average rating of "Moderate Buy" and an average price target of $22.09.
Check Out Our Latest Report on Energy Transfer
Hedge Funds Weigh In On Energy Transfer
A number of large investors have recently modified their holdings of the business. Bank of Montreal Can lifted its holdings in Energy Transfer by 12,090.8% in the fourth quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company's stock valued at $244,005,000 after acquiring an additional 12,353,441 shares during the period. FMR LLC increased its holdings in shares of Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company's stock valued at $535,738,000 after purchasing an additional 10,195,768 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of Energy Transfer in the fourth quarter valued at about $79,113,000. BNP Paribas Financial Markets boosted its holdings in Energy Transfer by 36.7% during the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company's stock worth $185,594,000 after buying an additional 3,106,631 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new position in Energy Transfer during the fourth quarter worth about $50,166,000. 38.22% of the stock is owned by hedge funds and other institutional investors.
Energy Transfer Stock Performance
The stock's fifty day simple moving average is $19.54 and its 200-day simple moving average is $18.33. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $64.75 billion, a PE ratio of 14.74, a PEG ratio of 0.64 and a beta of 1.72.
Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. On average, research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.
Energy Transfer Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a $0.325 dividend. The ex-dividend date was Friday, February 7th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a dividend yield of 6.89%. Energy Transfer's payout ratio is currently 101.56%.
About Energy Transfer
(
Get Free Report)
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.
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