Energy Transfer (NYSE:ET) Trading Up 1.5% - What's Next?

Key Points

• Energy Transfer's shares saw a 1.5% increase in trading, reaching a last traded price of $18.05, despite a significant decline in trading volume.
• Analysts have varied price targets for Energy Transfer, with a consensus target of $22.58, and the majority issuing a "buy" rating.
• The company recently announced a $0.33 quarterly dividend, maintaining a 7.29% yield, with a payout ratio of 99.24%.

Shares of Energy Transfer LP (NYSE:ET - Get Free Report) traded up 1.5% during trading on Tuesday . The company traded as high as $18.03 and last traded at $18.05. 3,762,347 shares traded hands during trading, a decline of 76% from the average session volume of 15,522,951 shares. The stock had previously closed at $17.78.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Mizuho upped their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Tuesday, May 20th. Wells Fargo & Company dropped their price objective on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Cowen initiated coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating on the stock. TD Cowen began coverage on shares of Energy Transfer in a research report on Monday, July 7th. They issued a "buy" rating and a $22.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, Energy Transfer presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.58.

Energy Transfer Trading Up 1.9%

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 firm has a market cap of $62.16 billion, a price-to-earnings ratio of 13.70, a price-to-earnings-growth ratio of 0.92 and a beta of 0.79. The company has a 50 day moving average of $17.78 and a 200 day moving average of $18.26.

Energy Transfer (NYSE:ET - Get Free Report) last released its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. The company had revenue of $21.02 billion during the quarter, compared to the consensus estimate of $22.28 billion. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. The firm's quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 earnings per share. As a group, research analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th will be paid a $0.33 dividend. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date is Friday, August 8th. This represents a $1.32 annualized dividend and a yield of 7.29%. Energy Transfer's dividend payout ratio is currently 99.24%.

Insider Buying and Selling at Energy Transfer

In other news, Director James Richard Perry sold 1,369 shares of Energy Transfer stock in a transaction on Friday, June 13th. The stock was sold at an average price of $18.48, for a total value of $25,299.12. Following the transaction, the director owned 24,523 shares in the company, valued at approximately $453,185.04. This trade represents a 5.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.28% of the company's stock.

Institutional Trading of Energy Transfer

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alps Advisors Inc. lifted its stake in Energy Transfer by 12.9% during the first quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company's stock worth $1,400,831,000 after purchasing an additional 8,613,645 shares during the last quarter. FMR LLC boosted its holdings in shares of 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 purchasing an additional 5,254,721 shares during the period. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of Energy Transfer by 2.6% during the first quarter. Tortoise Capital Advisors L.L.C. now owns 38,205,495 shares of the pipeline company's stock worth $710,240,000 after purchasing an additional 951,656 shares during the period. Kayne Anderson Capital Advisors LP boosted its holdings in shares of Energy Transfer by 0.8% during the first quarter. Kayne Anderson Capital Advisors LP now owns 24,170,455 shares of the pipeline company's stock worth $449,329,000 after purchasing an additional 182,705 shares during the period. Finally, Energy Income Partners LLC boosted its holdings in shares of Energy Transfer by 12.0% during the first quarter. Energy Income Partners LLC now owns 23,120,066 shares of the pipeline company's stock worth $429,802,000 after purchasing an additional 2,471,401 shares during the period. 38.22% of the stock is 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.

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