Energy Transfer (NYSE:ET) Shares Up 1.9% - Here's What Happened

Energy Transfer LP (NYSE:ET - Get Free Report)'s share price shot up 1.9% on Friday . The stock traded as high as $17.52 and last traded at $17.24. 11,249,104 shares changed hands during trading, a decline of 26% from the average session volume of 15,208,299 shares. The stock had previously closed at $16.92.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Morgan Stanley boosted their price target on Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 25th. Citigroup reiterated a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. UBS Group reiterated a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. Barclays upped their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $23.00 target price on shares of Energy Transfer in a report on Tuesday, March 25th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $22.09.

Energy Transfer Stock Up 1.9 %

The business's 50 day simple moving average is $18.24 and its 200 day simple moving average is $18.47. The company has a market capitalization of $59.14 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. As a group, analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were paid a $0.325 dividend. This is an increase from Energy Transfer's previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a yield of 7.54%. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer's dividend payout ratio is currently 101.56%.

Hedge Funds Weigh In On Energy Transfer

Large investors have recently made changes to their positions in the business. FMR LLC increased its stake in Energy Transfer by 15.7% in the 4th quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock valued at $756,840,000 after buying an additional 5,254,721 shares during the period. Kayne Anderson Capital Advisors LP grew its holdings in shares of Energy Transfer by 7.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company's stock valued at $469,920,000 after acquiring an additional 1,723,683 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Energy Transfer by 5.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,776,221 shares of the pipeline company's stock worth $387,416,000 after acquiring an additional 1,093,381 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of Energy Transfer by 18.2% during the fourth quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company's stock worth $319,929,000 after acquiring an additional 2,512,060 shares in the last quarter. Finally, Chickasaw Capital Management LLC boosted its position in Energy Transfer by 2.5% during the fourth quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company's stock valued at $308,319,000 after purchasing an additional 388,073 shares during the last quarter. 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.