Energy Transfer (NYSE:ET) Stock Price Up 0.5% - Here's What Happened

Energy Transfer LP (NYSE:ET - Get Free Report)'s stock price was up 0.5% on Wednesday . The stock traded as high as $20.51 and last traded at $20.41. Approximately 3,639,911 shares were traded during trading, a decline of 78% from the average daily volume of 16,555,266 shares. The stock had previously closed at $20.30.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ET shares. The Goldman Sachs Group increased their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday, December 19th. Royal Bank of Canada increased their target price on Energy Transfer from $20.00 to $23.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. Stifel Nicolaus boosted their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Wells Fargo & Company increased their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an "overweight" rating in a report on Wednesday, December 18th. Finally, Barclays boosted their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Energy Transfer has an average rating of "Moderate Buy" and an average target price of $21.18.

Energy Transfer Price Performance

The stock's fifty day moving average price is $19.87 and its 200-day moving average price is $17.90. 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 firm has a market cap of $66.55 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) 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%. As a group, equities analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a $0.325 dividend. The ex-dividend date of this dividend was Friday, February 7th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.70%. Energy Transfer's dividend payout ratio is 101.56%.

Hedge Funds Weigh In On Energy Transfer

Institutional investors have recently added to or reduced their stakes in the stock. Mountain Hill Investment Partners Corp. purchased a new position in shares of Energy Transfer during the 4th quarter worth $25,000. Princeton Global Asset Management LLC raised its stake in Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company's stock worth $26,000 after purchasing an additional 650 shares during the period. Assetmark Inc. raised its stake in Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company's stock worth $28,000 after purchasing an additional 1,668 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Energy Transfer in the 4th quarter valued at approximately $29,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in shares of Energy Transfer in the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors 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.