Energy Transfer (NYSE:ET) Shares Up 2.6% - Still a Buy?

Energy Transfer LP (NYSE:ET - Get Free Report) shares shot up 2.6% during trading on Friday . The stock traded as high as $19.99 and last traded at $19.92. 6,530,958 shares changed hands during trading, a decline of 52% from the average session volume of 13,675,876 shares. The stock had previously closed at $19.42.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ET shares. UBS Group increased their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, September 18th. Royal Bank of Canada increased their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Finally, Bank of America started coverage on Energy Transfer in a research note on Thursday, October 17th. They set a "buy" rating and a $20.00 target price for the company. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $20.00.

Energy Transfer Stock Up 2.3 %

The stock has a market capitalization of $68.00 billion, a PE ratio of 14.60, a P/E/G ratio of 0.62 and a beta of 1.66. The firm has a 50 day moving average of $16.99 and a two-hundred day moving average of $16.30. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. Energy Transfer's quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the business posted $0.31 EPS. Equities research analysts anticipate that Energy Transfer LP will post 1.34 earnings per share for the current year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a yield of 6.50%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer's payout ratio is 94.85%.

Hedge Funds Weigh In On Energy Transfer

Several hedge funds have recently bought and sold shares of ET. FMR LLC grew its position in shares of Energy Transfer by 44.0% in the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company's stock valued at $535,738,000 after purchasing an additional 10,195,768 shares during the period. Tortoise Capital Advisors L.L.C. grew its position in shares of Energy Transfer by 12.7% in 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 period. International Assets Investment Management LLC grew its position in shares of Energy Transfer by 1,491.0% in the third quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company's stock valued at $67,020,000 after purchasing an additional 3,913,266 shares during the period. BNP Paribas Financial Markets boosted its holdings in Energy Transfer by 36.7% in the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company's stock valued at $185,594,000 after acquiring an additional 3,106,631 shares during the last quarter. Finally, Citigroup Inc. boosted its holdings in Energy Transfer by 45.9% in the third quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company's stock valued at $153,787,000 after acquiring an additional 3,013,973 shares during the last quarter. Hedge funds and other institutional investors 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.