Energy Transfer (NYSE:ET) Stock Price Up 1.7% - Here's Why

Shares of Energy Transfer LP (NYSE:ET - Get Free Report) were up 1.7% during mid-day trading on Monday . The company traded as high as $19.02 and last traded at $18.92. Approximately 3,201,763 shares were traded during trading, a decline of 78% from the average daily volume of 14,477,267 shares. The stock had previously closed at $18.60.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ET shares. Barclays boosted their price target on Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Monday, January 13th. The Goldman Sachs Group upped their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a "neutral" rating in a research report on Thursday, December 19th. Stifel Nicolaus boosted their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Morgan Stanley raised their target price on shares of Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $23.00 price target on shares of Energy Transfer in a research report on Tuesday. One 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 currently has a consensus rating of "Moderate Buy" and an average target price of $22.09.

Energy Transfer Stock Down 0.1 %

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 50 day simple moving average of $19.54 and a 200-day simple moving average of $18.33. The stock has a market cap of $64.75 billion, a P/E ratio of 14.74, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72.

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Energy Transfer (NYSE:ET - Get Free Report) last posted its 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%. On average, equities research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal 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 paid a $0.325 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a yield of 6.89%. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. Energy Transfer's dividend payout ratio is 101.56%.

Hedge Funds Weigh In On Energy Transfer

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mountain Hill Investment Partners Corp. bought a new position in Energy Transfer during the 4th quarter worth $25,000. Capital A Wealth Management LLC acquired a new position in shares of Energy Transfer in the fourth quarter valued at about $26,000. GAMMA Investing LLC bought a new position in Energy Transfer during the fourth quarter worth about $29,000. Fourth Dimension Wealth LLC acquired a new stake in Energy Transfer in the 4th quarter worth about $29,000. Finally, United Community Bank bought a new stake in Energy Transfer in the 4th quarter valued at about $35,000. Institutional investors and hedge funds 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.