Energy Transfer (NYSE:ET) Trading Up 1.3% on Analyst Upgrade

Energy Transfer LP (NYSE:ET - Get Free Report) was up 1.3% during trading on Tuesday after Barclays raised their price target on the stock from $22.00 to $25.00. Barclays currently has an overweight rating on the stock. Energy Transfer traded as high as $19.82 and last traded at $19.72. Approximately 2,793,387 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 13,024,881 shares. The stock had previously closed at $19.47.

A number of other research firms have also commented on ET. Wells Fargo & Company boosted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Wednesday, December 18th. Bank of America started coverage on Energy Transfer in a report on Thursday, October 17th. They set a "buy" rating and a $20.00 price target for the company. UBS Group boosted their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, September 18th. 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 report on Thursday, December 19th. Finally, Royal Bank of Canada boosted their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $20.82.

Institutional Trading of Energy Transfer

A number of institutional investors and hedge funds have recently modified their holdings of ET. Private Client Services LLC raised its holdings in Energy Transfer by 3.1% during the 4th quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company's stock worth $331,000 after buying an additional 511 shares during the period. Marcum Wealth LLC boosted its holdings in Energy Transfer by 4.6% during the fourth quarter. Marcum Wealth LLC now owns 12,847 shares of the pipeline company's stock worth $252,000 after purchasing an additional 561 shares during the last quarter. Fortis Capital Management LLC grew its position in Energy Transfer by 2.0% in the third quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company's stock valued at $513,000 after purchasing an additional 634 shares in the last quarter. Princeton Global Asset Management LLC grew its stake in Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company's stock valued at $26,000 after purchasing an additional 650 shares in the last quarter. Finally, Haverford Trust Co boosted its holdings in shares of Energy Transfer by 0.7% in the 3rd quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company's stock valued at $1,640,000 after buying an additional 675 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

Energy Transfer Trading Up 2.2 %

The stock has a market cap of $68.10 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 0.62 and a beta of 1.70. The business's 50 day simple moving average is $18.79 and its 200 day simple moving average is $17.09. 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 announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts' consensus estimates of $0.32. The business had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. Energy Transfer's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.31 EPS. On average, research analysts expect that Energy Transfer LP will post 1.32 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a yield of 6.49%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer's payout ratio is presently 94.85%.

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.