Energy Transfer LP (NYSE:ET - Get Free Report)'s stock price rose 2.2% during mid-day trading on Thursday . The company traded as high as $18.05 and last traded at $18.06. Approximately 3,302,506 shares traded hands during trading, a decline of 79% from the average daily volume of 15,690,248 shares. The stock had previously closed at $17.67.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on ET. Morgan Stanley lifted their price target on Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Mizuho lifted their price target on Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 20th. Royal Bank Of Canada reissued an "outperform" rating and issued a $23.00 price target on shares of Energy Transfer in a research note on Tuesday, March 25th. JPMorgan Chase & Co. dropped their price target on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Finally, UBS Group reissued a "buy" rating on shares of Energy Transfer in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Energy Transfer has a consensus rating of "Moderate Buy" and a consensus target price of $22.64.
View Our Latest Stock Report on Energy Transfer
Energy Transfer Price Performance
The stock has a market capitalization of $62.45 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 0.57 and a beta of 0.78. The company has a current ratio of 1.12, a quick ratio of 0.92 and a debt-to-equity ratio of 1.41. The stock has a 50-day simple moving average of $17.56 and a 200 day simple moving average of $18.51.
Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. The firm had revenue of $21.02 billion during the quarter, compared to analyst estimates of $22.28 billion. During the same period last year, the company posted $0.32 EPS. The business's quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.
Energy Transfer Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were given a dividend of $0.3275 per share. The ex-dividend date was Friday, May 9th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.31 dividend on an annualized basis and a yield of 7.20%. Energy Transfer's dividend payout ratio (DPR) is presently 99.24%.
Insiders Place Their Bets
In other news, Director James Richard Perry sold 1,369 shares of Energy Transfer stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $18.48, for a total transaction of $25,299.12. Following the completion of the sale, the director now directly owns 24,523 shares in the company, valued at $453,185.04. The trade was a 5.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.28% of the company's stock.
Institutional Investors Weigh In On Energy Transfer
Several institutional investors have recently made changes to their positions in ET. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Energy Transfer during the 4th quarter valued at about $25,000. Capital A Wealth Management LLC acquired a new stake in shares of Energy Transfer during the 4th quarter valued at about $26,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Energy Transfer during the 4th quarter valued at about $29,000. Vision Financial Markets LLC acquired a new stake in shares of Energy Transfer during the 1st quarter valued at about $33,000. Finally, United Community Bank acquired a new stake in shares of Energy Transfer during the 4th quarter valued at about $35,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.
Energy Transfer Company Profile
(
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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