Energy Transfer LP (NYSE:ET - Get Free Report)'s stock price shot up 5.6% during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $16.81 and last traded at $16.70. 9,024,413 shares were traded during trading, a decline of 41% from the average session volume of 15,401,350 shares. The stock had previously closed at $15.81.
The pipeline company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. The business had revenue of $21.02 billion for the quarter, compared to the consensus estimate of $22.28 billion. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. Energy Transfer's revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 EPS.
Energy Transfer Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th will be paid a $0.3275 dividend. The ex-dividend date of this dividend is Friday, May 9th. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.31 dividend on an annualized basis and a yield of 7.81%. Energy Transfer's dividend payout ratio (DPR) is presently 102.34%.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the company. Stifel Nicolaus lifted their target price on Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Barclays upped their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. Wells Fargo & Company reduced their price target on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a research report on Wednesday. UBS Group restated a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Finally, Morgan Stanley raised their target price on shares of Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. One 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 currently has a consensus rating of "Moderate Buy" and an average target price of $22.09.
View Our Latest Research Report on ET
Hedge Funds Weigh In On Energy Transfer
Large investors have recently modified their holdings of the company. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Energy Transfer in the fourth quarter worth $25,000. Capital A Wealth Management LLC purchased a new stake in Energy Transfer in the fourth quarter valued at approximately $26,000. GAMMA Investing LLC purchased a new stake in shares of Energy Transfer during the 4th quarter valued at $29,000. Fourth Dimension Wealth LLC purchased a new position in shares of Energy Transfer during the 4th quarter valued at about $29,000. Finally, United Community Bank purchased a new position in Energy Transfer in the 4th quarter worth $35,000. 38.22% of the stock is currently owned by institutional investors.
Energy Transfer Stock Performance
The company has a fifty day moving average price of $17.57 and a 200 day moving average price of $18.49. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The stock has a market cap of $57.52 billion, a PE ratio of 13.07, a P/E/G ratio of 0.64 and a beta of 0.77.
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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