Energy Transfer LP (NYSE:ET - Get Free Report)'s stock price was up 0.2% during mid-day trading on Monday . The stock traded as high as $20.40 and last traded at $20.28. Approximately 14,533,663 shares changed hands during trading, an increase of 27% from the average daily volume of 11,469,590 shares. The stock had previously closed at $20.25.
Analysts Set New Price Targets
ET has been the subject of several research reports. The Goldman Sachs Group lifted their target price on Energy Transfer from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Thursday, December 19th. Barclays lifted their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. Bank of America assumed coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a "buy" rating and a $20.00 target price on the stock. Wells Fargo & Company lifted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada increased their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the company an "outperform" rating in a report on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $20.82.
View Our Latest Stock Analysis on Energy Transfer
Energy Transfer Trading Up 0.2 %
The company's fifty day simple moving average is $19.02 and its two-hundred day simple moving average is $17.20. The company has a market capitalization of $69.45 billion, a price-to-earnings ratio of 14.91, a price-to-earnings-growth ratio of 0.57 and a beta of 1.70. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.
Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. During the same quarter last year, the business posted $0.31 EPS. The firm's revenue was up .2% compared to the same quarter last year. Research analysts forecast that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.
Energy Transfer Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were given a $0.3225 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.36%. Energy Transfer's dividend payout ratio is presently 94.85%.
Institutional Investors Weigh In On Energy Transfer
Several large investors have recently made changes to their positions in the stock. FMR LLC raised its position in 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 buying an additional 10,195,768 shares during the last quarter. Chickasaw Capital Management LLC grew its stake in shares of Energy Transfer by 2.5% during the 4th quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company's stock worth $308,319,000 after acquiring an additional 388,073 shares in the last quarter. Brookfield Corp ON raised its holdings in shares of Energy Transfer by 2.8% in the third quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company's stock valued at $210,896,000 after purchasing an additional 352,625 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Energy Transfer by 36.7% in the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company's stock worth $185,594,000 after purchasing an additional 3,106,631 shares in the last quarter. Finally, Citigroup Inc. boosted its holdings in Energy Transfer by 45.9% during the third quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company's stock worth $153,787,000 after purchasing an additional 3,013,973 shares during the last quarter. Institutional investors own 38.22% of the company's stock.
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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