Energy Transfer (NYSE:ET) Trading 1.2% Higher - Time to Buy?

Energy Transfer LP (NYSE:ET - Get Free Report)'s stock price shot up 1.2% on Thursday . The company traded as high as $17.61 and last traded at $17.74. 2,485,155 shares traded hands during trading, a decline of 84% from the average session volume of 15,473,943 shares. The stock had previously closed at $17.53.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 25th. Wells Fargo & Company reduced their price objective on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. UBS Group reiterated a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Royal Bank of Canada reiterated an "outperform" rating and set a $23.00 price objective on shares of Energy Transfer in a report on Tuesday, March 25th. Finally, Mizuho increased their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 20th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Energy Transfer has a consensus rating of "Moderate Buy" and a consensus target price of $22.64.

Energy Transfer Price 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 business's fifty day moving average price is $17.21 and its 200-day moving average price is $18.62. The stock has a market capitalization of $61.57 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 0.64 and a beta of 0.78.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.03. The business had revenue of $21.02 billion for the quarter, compared to analysts' expectations of $22.28 billion. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The firm's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 EPS. On average, research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 9th were issued a dividend of $0.3275 per share. The ex-dividend date was Friday, May 9th. This represents a $1.31 annualized dividend and a yield of 7.30%. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio is 99.24%.

Hedge Funds Weigh In On Energy Transfer

Several large investors have recently bought and sold shares of the stock. Mountain Hill Investment Partners Corp. bought a new position in shares of Energy Transfer during the fourth quarter valued at about $25,000. Capital A Wealth Management LLC purchased a new stake in Energy Transfer in the 4th quarter valued at about $26,000. Fourth Dimension Wealth LLC bought a new position in shares of Energy Transfer during the 4th quarter worth approximately $29,000. Vision Financial Markets LLC purchased a new position in shares of Energy Transfer in the 1st quarter worth approximately $33,000. Finally, United Community Bank bought a new position in shares of Energy Transfer in the fourth quarter valued at approximately $35,000. 38.22% of the stock is currently owned by institutional investors.

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.