Shares of Energy Transfer LP (NYSE:ET - Get Free Report) were up 1.9% during trading on Wednesday . The stock traded as high as $17.60 and last traded at $17.30. Approximately 5,557,325 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 15,175,633 shares. The stock had previously closed at $16.98.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on ET shares. Royal Bank of Canada restated an "outperform" rating and set a $23.00 price objective on shares of Energy Transfer in a research report on Tuesday, March 25th. Stifel Nicolaus boosted their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Morgan Stanley increased their target price on shares of Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Finally, Barclays lifted their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $22.09.
Check Out Our Latest Stock Report on ET
Energy Transfer Trading Down 0.9 %
The stock's 50-day moving average price is $17.96 and its 200 day moving average price is $18.49. 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 $59.84 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32.
Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings data 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 return on equity of 11.56% and a net margin of 5.74%. On average, sell-side analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.
Energy Transfer Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th will be issued a dividend of $0.3275 per share. This represents a $1.31 annualized dividend and a yield of 7.51%. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date is Friday, May 9th. Energy Transfer's dividend payout ratio is presently 102.34%.
Institutional Investors Weigh In On Energy Transfer
Large investors have recently modified their holdings of the business. FMR LLC lifted its holdings in Energy Transfer by 15.7% during the fourth quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock worth $756,840,000 after buying an additional 5,254,721 shares during the period. Kayne Anderson Capital Advisors LP lifted its stake 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 worth $469,920,000 after purchasing an additional 1,723,683 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Energy Transfer by 5.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,776,221 shares of the pipeline company's stock valued at $387,416,000 after purchasing an additional 1,093,381 shares in the last quarter. Westwood Holdings Group Inc. grew 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 valued at $319,929,000 after purchasing an additional 2,512,060 shares during the last quarter. Finally, Chickasaw Capital Management LLC raised its holdings in Energy Transfer by 2.5% in the fourth quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company's stock worth $308,319,000 after purchasing an additional 388,073 shares in the last quarter. Institutional investors own 38.22% of the company's stock.
Energy Transfer Company Profile
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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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