Shares of Energy Transfer LP (NYSE:ET - Get Free Report) were up 1.2% during trading on Wednesday 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 $19.07 and last traded at $19.12. Approximately 2,003,072 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 14,460,194 shares. The stock had previously closed at $18.88.
Other research analysts also recently issued research reports about the company. Stifel Nicolaus boosted their price target on Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Royal Bank of Canada boosted their target price 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. Wells Fargo & Company lifted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Barclays upped their target price on Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. Finally, The Goldman Sachs Group lifted their price target on Energy Transfer from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Energy Transfer currently has an average rating of "Moderate Buy" and an average price target of $22.09.
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Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Bank of Montreal Can boosted its position 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 worth $244,005,000 after buying an additional 12,353,441 shares during the period. FMR LLC raised its stake in shares of Energy Transfer by 44.0% during the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company's stock valued at $535,738,000 after acquiring an additional 10,195,768 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in shares of Energy Transfer during the fourth quarter worth $79,113,000. Hsbc Holdings PLC bought a new stake in shares of Energy Transfer in the fourth quarter worth $50,166,000. Finally, Westwood Holdings Group Inc. increased its holdings in Energy Transfer by 18.2% in the fourth quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company's stock valued at $319,929,000 after purchasing an additional 2,512,060 shares during the period. 38.22% of the stock is currently owned by institutional investors.
Energy Transfer Stock Down 0.9 %
The firm has a market capitalization of $64.22 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 0.64 and a beta of 1.72. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The stock has a fifty day moving average of $19.46 and a two-hundred day moving average of $18.39.
Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings results 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%. Sell-side analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.
Energy Transfer Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a dividend of $0.325 per share. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 6.95%. Energy Transfer's dividend payout ratio (DPR) is presently 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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