Energy Transfer (NYSE:ET) Stock Price Up 1.1% - Here's Why

Energy Transfer LP (NYSE:ET - Get Free Report) traded up 1.1% on Thursday . The company traded as high as $19.75 and last traded at $19.71. 9,007,061 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 16,512,867 shares. The stock had previously closed at $19.49.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. UBS Group lifted their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, September 18th. Barclays increased their target price on Energy Transfer from $18.00 to $22.00 and gave the stock an "overweight" rating in a report on Friday, December 20th. Bank of America assumed coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a "buy" rating and a $20.00 price objective for the company. Wells Fargo & Company upped their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. Finally, The Goldman Sachs Group raised their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Thursday, December 19th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $20.55.

Energy Transfer Price Performance

The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The stock has a fifty day simple moving average of $18.67 and a 200-day simple moving average of $17.03. The stock has a market cap of $67.49 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 0.62 and a beta of 1.70.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same period last year, the business posted $0.31 EPS. The business's quarterly revenue was up .2% on a year-over-year basis. As a group, equities research analysts expect that Energy Transfer LP will post 1.32 EPS for the current year.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were given a $0.3225 dividend. This represents a $1.29 annualized dividend and a yield of 6.54%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer's dividend payout ratio (DPR) is presently 94.85%.

Institutional Trading of Energy Transfer

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC acquired a new position in Energy Transfer in the fourth quarter worth $29,000. Princeton Global Asset Management LLC raised its holdings in shares of 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 buying an additional 650 shares during the last quarter. Assetmark Inc. lifted its position in Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company's stock worth $28,000 after buying an additional 1,668 shares in the last quarter. HWG Holdings LP bought a new stake in Energy Transfer during the 2nd quarter worth about $33,000. Finally, Continuum Advisory LLC increased its position in Energy Transfer by 44.8% in the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company's stock valued at $40,000 after acquiring an additional 729 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

About Energy Transfer

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.