Energy Transfer LP (NYSE:ET - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $16.08 and last traded at $16.08, with a volume of 2023150 shares. The stock had previously closed at $15.89.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on ET shares. UBS Group reduced their price objective on shares of Energy Transfer from $23.00 to $22.00 and set a "buy" rating for the company in a report on Thursday, February 15th. Mizuho restated a "buy" rating and set a $19.00 price target (up from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. Finally, Citigroup lifted their target price on Energy Transfer from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Wednesday, February 21st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.00.
Check Out Our Latest Analysis on ET
Energy Transfer Price Performance
The stock's 50-day moving average price is $15.49 and its 200-day moving average price is $14.42. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $54.13 billion, a price-to-earnings ratio of 14.74 and a beta of 1.63.
Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.08. The company had revenue of $20.53 billion for the quarter, compared to analyst estimates of $21.46 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The company's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 EPS. Equities research analysts anticipate that Energy Transfer LP will post 1.56 earnings per share for the current year.
Energy Transfer Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be given a $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.89%. This is an increase from Energy Transfer's previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, May 10th. Energy Transfer's dividend payout ratio (DPR) is currently 115.60%.
Hedge Funds Weigh In On Energy Transfer
Several institutional investors have recently modified their holdings of the business. SVB Wealth LLC acquired a new stake in shares of Energy Transfer in the 3rd quarter valued at about $257,000. J.W. Cole Advisors Inc. grew its holdings in shares of Energy Transfer by 31.2% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 37,575 shares of the pipeline company's stock valued at $527,000 after acquiring an additional 8,934 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Energy Transfer by 7.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 77,753 shares of the pipeline company's stock valued at $1,091,000 after acquiring an additional 5,174 shares in the last quarter. Brown Advisory Inc. grew its holdings in shares of Energy Transfer by 2.7% in the 3rd quarter. Brown Advisory Inc. now owns 254,305 shares of the pipeline company's stock valued at $3,568,000 after acquiring an additional 6,771 shares in the last quarter. Finally, BluePath Capital Management LLC bought a new position in shares of Energy Transfer in the 3rd quarter valued at about $37,000. Institutional investors own 38.22% of the company's stock.
About Energy Transfer
(
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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