Energy Transfer (NYSE:ET) Trading Up 0.5% - Here's Why

Energy Transfer LP (NYSE:ET - Get Free Report) shares traded up 0.5% on Wednesday . The company traded as high as $17.30 and last traded at $17.20. 2,449,137 shares were traded during trading, a decline of 84% from the average session volume of 15,201,590 shares. The stock had previously closed at $17.11.

Analyst Upgrades and Downgrades

ET has been the subject of several recent analyst reports. Citigroup reaffirmed a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. Barclays increased their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. Morgan Stanley upped their price objective on Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus lifted their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.09.

Energy Transfer Stock Up 1.9 %

The company has a 50 day moving average of $18.24 and a 200-day moving average of $18.44. 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 company has a market cap of $59.14 billion, a P/E ratio of 13.46, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32.

Energy Transfer (NYSE:ET - Get Free Report) last announced 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 net margin of 5.74% and a return on equity of 11.56%. On average, equities analysts predict 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 given a dividend of $0.325 per share. This is an increase from Energy Transfer's previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a yield of 7.54%. Energy Transfer's dividend payout ratio (DPR) is presently 101.56%.

Hedge Funds Weigh In On Energy Transfer

Several institutional investors have recently modified their holdings of the company. Mountain Hill Investment Partners Corp. bought a new stake in shares of Energy Transfer in the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC bought a new stake in Energy Transfer in the fourth quarter worth $26,000. GAMMA Investing LLC purchased a new stake in Energy Transfer during the fourth quarter valued at about $29,000. Fourth Dimension Wealth LLC bought a new position in shares of Energy Transfer during the fourth quarter valued at about $29,000. Finally, United Community Bank purchased a new position in shares of Energy Transfer in the fourth quarter worth about $35,000. 38.22% of the stock is currently owned by institutional investors.

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.