Shares of Energy Transfer LP (NYSE:ET - Get Free Report) shot up 1.6% during trading on Wednesday after Citigroup raised their price target on the stock from $20.00 to $22.00. Citigroup currently has a buy rating on the stock. Energy Transfer traded as high as $19.46 and last traded at $19.23. 3,888,025 shares were traded during mid-day trading, a decline of 77% from the average session volume of 16,943,654 shares. The stock had previously closed at $18.92.
A number of other equities analysts also recently weighed in on ET. Stifel Nicolaus increased their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research note 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 stock an "overweight" rating in a research report on Wednesday, December 18th. 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 report on Thursday, December 19th. Barclays raised their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. Finally, Royal Bank of Canada raised their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an "outperform" rating in a report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Energy Transfer presently has an average rating of "Moderate Buy" and an average price target of $21.55.
Get Our Latest Stock Report on ET
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Stonegate Investment Group LLC boosted its holdings in shares of Energy Transfer by 1.4% during the fourth quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company's stock worth $672,000 after purchasing an additional 482 shares during the period. Private Client Services LLC boosted its holdings in shares of Energy Transfer by 3.1% during the fourth quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company's stock worth $331,000 after purchasing an additional 511 shares during the period. United Advisor Group LLC boosted its holdings in shares of Energy Transfer by 3.0% during the fourth quarter. United Advisor Group LLC now owns 18,540 shares of the pipeline company's stock worth $363,000 after purchasing an additional 534 shares during the period. Wealthspire Advisors LLC boosted its holdings in shares of Energy Transfer by 0.4% during the fourth quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company's stock worth $2,551,000 after purchasing an additional 535 shares during the period. Finally, Cannell & Spears LLC boosted its holdings in shares of Energy Transfer by 0.4% during the fourth quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company's stock worth $2,657,000 after purchasing an additional 546 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.
Energy Transfer Stock Performance
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 capitalization of $66.27 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 0.64 and a beta of 1.69. The firm's fifty day moving average is $19.92 and its 200 day moving average is $18.03.
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 (EPS) 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%. On average, analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.
Energy Transfer Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were issued a dividend of $0.325 per share. This is an increase from Energy Transfer's previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a dividend yield of 6.73%. The ex-dividend date was Friday, February 7th. Energy Transfer's dividend payout ratio is currently 101.56%.
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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