Energy Transfer (NYSE:ET) Trading 1.1% Higher - Here's What Happened

Shares of Energy Transfer LP (NYSE:ET - Get Free Report) shot up 1.1% during trading on Monday . The stock traded as high as $18.99 and last traded at $18.94. 2,543,816 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 17,568,713 shares. The stock had previously closed at $18.73.

Analysts Set New Price Targets

A number of research analysts have weighed in on ET shares. The Goldman Sachs Group increased their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a "neutral" rating in a research note on Thursday, December 19th. Citigroup raised their price target on Energy Transfer from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Royal Bank of Canada upped their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the company an "outperform" rating in a research note on Monday, December 9th. Barclays raised their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. Finally, UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $21.55.

Energy Transfer Trading Down 0.6 %

The firm's 50 day simple moving average is $19.59 and its 200-day simple moving average is $18.24. The company has a market capitalization of $64.62 billion, a PE ratio of 14.71, a P/E/G ratio of 0.64 and a beta of 1.72. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42.

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

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a dividend of $0.325 per share. The ex-dividend date of this dividend 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 yield of 6.90%. Energy Transfer's payout ratio is 101.56%.

Institutional Trading of Energy Transfer

A number of hedge funds have recently made changes to their positions in ET. Stonegate Investment Group LLC grew its holdings in Energy Transfer by 1.4% during the 4th quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company's stock valued at $672,000 after purchasing an additional 482 shares in the last quarter. Private Client Services LLC grew its stake in shares of Energy Transfer by 3.1% during the fourth quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company's stock valued at $331,000 after acquiring an additional 511 shares in the last quarter. United Advisor Group LLC increased its position in shares of Energy Transfer by 3.0% during the fourth quarter. United Advisor Group LLC now owns 18,540 shares of the pipeline company's stock worth $363,000 after acquiring an additional 534 shares during the last quarter. Wealthspire Advisors LLC lifted its stake in shares of Energy Transfer by 0.4% in the fourth quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company's stock worth $2,551,000 after acquiring an additional 535 shares in the last quarter. Finally, Cannell & Spears LLC lifted its stake in shares of Energy Transfer by 0.4% in the fourth quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company's stock worth $2,657,000 after acquiring an additional 546 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company's stock.

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.