Energy Transfer (NYSE:ET) Shares Up 0.4% - Still a Buy?

Energy Transfer LP (NYSE:ET - Get Free Report)'s stock price rose 0.4% on Thursday . The company traded as high as $19.38 and last traded at $19.25. Approximately 2,412,346 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 13,650,163 shares. The stock had previously closed at $19.18.

Analyst Upgrades and Downgrades

ET has been the subject of a number of analyst reports. UBS Group upped their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, September 18th. 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 report on Monday. Finally, Bank of America began coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a "buy" rating and a $20.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $20.38.

Energy Transfer Trading Up 0.2 %

The stock has a market cap of $65.77 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70. The firm's 50 day moving average is $17.47 and its two-hundred day moving average is $16.48. 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 released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The firm 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 earnings per share. Equities analysts anticipate that Energy Transfer LP will post 1.32 EPS for the current year.

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.72%. Energy Transfer's payout ratio is currently 94.85%.

Institutional Investors Weigh In On Energy Transfer

Several large investors have recently made changes to their positions in the company. Empowered Funds LLC increased its stake in shares of Energy Transfer by 15.0% during the third quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company's stock valued at $5,567,000 after acquiring an additional 45,172 shares during the period. Kingsview Wealth Management LLC increased its stake in shares of Energy Transfer by 30.9% during the third quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company's stock valued at $3,885,000 after acquiring an additional 57,184 shares during the period. FMR LLC increased 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 period. Clear Street Derivatives LLC acquired a new position in shares of Energy Transfer during the third quarter valued at approximately $2,565,000. Finally, GFS Advisors LLC increased its stake in shares of Energy Transfer by 19,380.5% during the third quarter. GFS Advisors LLC now owns 60,000 shares of the pipeline company's stock valued at $963,000 after acquiring an additional 59,692 shares during the period. 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.