Energy Transfer (NYSE:ET) Stock Price Up 1.8% - Time to Buy?

Energy Transfer LP (NYSE:ET - Get Free Report) was up 1.8% during mid-day trading on Friday . The stock traded as high as $18.04 and last traded at $18.00. Approximately 3,237,762 shares traded hands during trading, a decline of 79% from the average daily volume of 15,485,659 shares. The stock had previously closed at $17.67.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ET shares. Stifel Nicolaus increased their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Citigroup reissued a "buy" rating on shares of Energy Transfer in a report on Monday, March 24th. Wells Fargo & Company cut their price target on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Royal Bank of Canada reissued an "outperform" rating and set a $23.00 price target on shares of Energy Transfer in a report on Tuesday, March 25th. Finally, Morgan Stanley increased their price target on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $22.64.

Energy Transfer Stock Performance

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 company has a market capitalization of $61.57 billion, a PE ratio of 14.02, a PEG ratio of 0.64 and a beta of 0.78. The stock's fifty day simple moving average is $17.20 and its 200-day simple moving average is $18.62.

Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. The company had revenue of $21.02 billion during 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 quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company posted $0.32 earnings per share. On average, research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were given a $0.3275 dividend. The ex-dividend date was Friday, May 9th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a dividend yield of 7.30%. Energy Transfer's dividend payout ratio is currently 99.24%.

Institutional Trading of Energy Transfer

Several large investors have recently modified their holdings of the business. Mountain Hill Investment Partners Corp. acquired a new stake in Energy Transfer during the fourth quarter worth approximately $25,000. Capital A Wealth Management LLC acquired a new stake in Energy Transfer during the fourth quarter worth approximately $26,000. Fourth Dimension Wealth LLC acquired a new stake in Energy Transfer during the fourth quarter worth approximately $29,000. United Community Bank acquired a new stake in Energy Transfer during the fourth quarter worth approximately $35,000. Finally, Vision Financial Markets LLC acquired a new stake in Energy Transfer during the first quarter worth approximately $33,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

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.