Energy Transfer (NYSE:ET) Shares Up 0.6% - Still a Buy?

Shares of Energy Transfer LP (NYSE:ET - Get Free Report) were up 0.6% during mid-day trading on Tuesday . The stock traded as high as $18.70 and last traded at $18.71. Approximately 2,850,323 shares traded hands during trading, a decline of 82% from the average daily volume of 16,219,917 shares. The stock had previously closed at $18.59.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ET. Morgan Stanley boosted their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Royal Bank of Canada reissued an "outperform" rating and issued a $23.00 price target on shares of Energy Transfer in a research note on Tuesday, March 25th. The Goldman Sachs Group raised their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a "neutral" rating in a research report on Thursday, December 19th. Citigroup reiterated a "buy" rating on shares of Energy Transfer in a report on Monday, March 24th. Finally, 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. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.09.

Energy Transfer Stock Performance

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 firm has a market capitalization of $64.58 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. The company's 50 day moving average is $19.38 and its 200-day moving average is $18.43.

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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 return on equity of 11.56% and a net margin of 5.74%. As a group, equities analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.91%. This is a positive change 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 Investors Weigh In On Energy Transfer

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of Montreal Can boosted its stake in Energy Transfer by 12,090.8% during the 4th quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company's stock valued at $244,005,000 after purchasing an additional 12,353,441 shares during the last quarter. FMR LLC boosted its position in shares of Energy Transfer by 15.7% during the fourth quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock valued at $756,840,000 after buying an additional 5,254,721 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new stake in Energy Transfer during the fourth quarter worth $79,113,000. Hsbc Holdings PLC purchased a new stake in Energy Transfer in the 4th quarter valued at $50,166,000. Finally, Westwood Holdings Group Inc. lifted its stake in Energy Transfer by 18.2% during the 4th quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company's stock valued at $319,929,000 after acquiring an additional 2,512,060 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

Energy Transfer Company Profile

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.