Energy Transfer (NYSE:ET) Reaches New 12-Month High - Here's What Happened

Energy Transfer LP (NYSE:ET - Get Free Report) shares hit a new 52-week high on Monday . The stock traded as high as $19.35 and last traded at $19.24, with a volume of 1196311 shares trading hands. The stock had previously closed at $19.07.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Bank of America assumed coverage on Energy Transfer in a report on Thursday, October 17th. They issued a "buy" rating and a $20.00 price target for the company. UBS Group upped their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, September 18th. Finally, Royal Bank of Canada upped their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $20.00.

Energy Transfer Trading Down 0.8 %

The stock has a market cap of $64.75 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 0.61 and a beta of 1.66. The firm's 50 day moving average is $16.66 and its two-hundred day moving average is $16.18. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET - Get Free Report) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 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 firm had revenue of $20.77 billion during the quarter, compared to analysts' expectations of $21.59 billion. During the same quarter in the prior year, the firm earned $0.31 EPS. Energy Transfer's quarterly revenue was up .2% on a year-over-year basis. Equities analysts anticipate that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a $0.3225 dividend. This represents a $1.29 annualized dividend and a yield of 6.82%. The ex-dividend date was Friday, November 8th. Energy Transfer's dividend payout ratio (DPR) is presently 94.85%.

Institutional Trading of Energy Transfer

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tortoise Capital Advisors L.L.C. lifted its stake in Energy Transfer by 12.7% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company's stock valued at $594,769,000 after purchasing an additional 4,141,715 shares during the last quarter. FMR LLC lifted its position in shares of Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company's stock valued at $535,738,000 after acquiring an additional 10,195,768 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in shares of Energy Transfer by 1.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 16,107,470 shares of the pipeline company's stock valued at $261,263,000 after acquiring an additional 171,720 shares in the last quarter. Chickasaw Capital Management LLC lifted its position in shares of Energy Transfer by 3.1% in the 3rd quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company's stock valued at $246,376,000 after acquiring an additional 466,565 shares in the last quarter. Finally, Brookfield Corp ON lifted its position in shares of Energy Transfer by 2.8% in the 3rd quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company's stock valued at $210,896,000 after acquiring an additional 352,625 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

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.

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