Energy Transfer (NYSE:ET) Given New $24.00 Price Target at UBS Group

Energy Transfer (NYSE:ET - Free Report) had its price objective upped by UBS Group from $23.00 to $24.00 in a report released on Wednesday morning, Benzinga reports. UBS Group currently has a buy rating on the pipeline company's stock.

A number of other equities analysts have also weighed in on the stock. Stifel Nicolaus lifted their price target on shares of Energy Transfer from $18.00 to $19.00 and gave the company a buy rating in a report on Thursday, May 9th. Mizuho reaffirmed a buy rating and issued a $19.00 target price (up from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. Finally, Citigroup boosted their price target on Energy Transfer from $17.00 to $18.00 and gave the company a buy rating in a research report on Wednesday, February 21st. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Energy Transfer currently has an average rating of Moderate Buy and a consensus price target of $18.43.

Energy Transfer Trading Up 0.2 %

Shares of NYSE ET traded up $0.03 during midday trading on Wednesday, reaching $15.90. 8,918,849 shares of the stock were exchanged, compared to its average volume of 12,328,700. The stock has a 50 day moving average price of $15.64 and a 200-day moving average price of $14.52. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $53.58 billion, a P/E ratio of 14.60 and a beta of 1.63. Energy Transfer has a 52-week low of $12.31 and a 52-week high of $16.40.

Energy Transfer (NYSE:ET - Get Free Report) last released its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.04). Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The firm had revenue of $21.63 billion during the quarter, compared to analysts' expectations of $20.91 billion. During the same period in the previous year, the firm posted $0.32 earnings per share. The firm's revenue was up 13.9% on a year-over-year basis. Equities research analysts expect that Energy Transfer will post 1.54 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be issued a $0.317 dividend. This is an increase from Energy Transfer's previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a yield of 7.97%. The ex-dividend date of this dividend is Friday, May 10th. Energy Transfer's dividend payout ratio is currently 116.51%.

Institutional Investors Weigh In On Energy Transfer

Hedge funds have recently modified their holdings of the stock. Rehmann Capital Advisory Group boosted its position in Energy Transfer by 2.0% in the 1st quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company's stock valued at $505,000 after buying an additional 633 shares during the last quarter. Sfmg LLC boosted its holdings in Energy Transfer by 2.2% in the first quarter. Sfmg LLC now owns 31,406 shares of the pipeline company's stock valued at $494,000 after purchasing an additional 674 shares during the last quarter. FinTrust Capital Advisors LLC grew its stake in Energy Transfer by 3.6% during the 1st quarter. FinTrust Capital Advisors LLC now owns 20,201 shares of the pipeline company's stock valued at $318,000 after purchasing an additional 700 shares in the last quarter. Essex Financial Services Inc. increased its holdings in Energy Transfer by 2.2% during the 1st quarter. Essex Financial Services Inc. now owns 33,569 shares of the pipeline company's stock worth $528,000 after purchasing an additional 708 shares during the last quarter. Finally, Veracity Capital LLC raised its position in shares of Energy Transfer by 2.2% in the 1st quarter. Veracity Capital LLC now owns 32,916 shares of the pipeline company's stock valued at $518,000 after purchasing an additional 713 shares in the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

About Energy Transfer

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.