Shares of Energy Transfer LP (NYSE:ET - Get Free Report) traded up 2.1% during mid-day trading on Tuesday . The company traded as high as $17.37 and last traded at $17.17. 4,281,804 shares traded hands during trading, a decline of 72% from the average session volume of 15,225,568 shares. The stock had previously closed at $16.82.
Analysts Set New Price Targets
Several research firms have recently commented on ET. Barclays boosted 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. Stifel Nicolaus boosted their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Royal Bank of Canada reiterated an "outperform" rating and set a $23.00 price objective on shares of Energy Transfer in a report on Tuesday, March 25th. UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Finally, Citigroup reissued a "buy" rating on shares of Energy Transfer in a research note on Monday, March 24th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $22.09.
Read Our Latest Stock Report on ET
Energy Transfer Stock Down 4.3 %
The stock's 50 day moving average is $18.24 and its 200 day moving average is $18.47. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The company has a market capitalization of $56.68 billion, a PE ratio of 12.91, a PEG ratio of 0.64 and a beta of 1.32.
Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 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%. On average, sell-side analysts anticipate 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. Shareholders of record on Friday, February 7th were paid a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 7.87%. The ex-dividend date of this dividend was Friday, February 7th. This is a boost from Energy Transfer's previous quarterly dividend of $0.32. Energy Transfer's payout ratio is currently 101.56%.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its position in Energy Transfer by 15.7% during the fourth quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock valued at $756,840,000 after acquiring an additional 5,254,721 shares during the last quarter. 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 purchasing an additional 1,723,683 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Energy Transfer by 5.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,776,221 shares of the pipeline company's stock worth $387,416,000 after purchasing an additional 1,093,381 shares during the period. Westwood Holdings Group Inc. lifted its stake in Energy Transfer by 18.2% in the fourth quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company's stock worth $319,929,000 after purchasing an additional 2,512,060 shares during 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 buying an additional 388,073 shares during the period. Institutional investors own 38.22% of the company's stock.
About Energy Transfer
(
Get Free Report)
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.
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