Energy Transfer (NYSE:ET) Trading Up 0.3%

Energy Transfer LP (NYSE:ET - Get Free Report)'s share price shot up 0.3% during mid-day trading on Monday . The company traded as high as $16.07 and last traded at $16.00. 2,541,231 shares were traded during mid-day trading, a decline of 79% from the average session volume of 12,157,062 shares. The stock had previously closed at $15.96.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Citigroup increased their target price on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a "buy" rating in a report on Wednesday, February 21st. Mizuho restated a "buy" rating and issued a $19.00 target price (up previously from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. Finally, UBS Group lowered their price target 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. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $18.00.

Energy Transfer Trading Up 0.2 %

The business's fifty day moving average is $15.36 and its 200-day moving average is $14.33. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.88 and a current ratio of 1.10. The firm has a market cap of $53.89 billion, a P/E ratio of 14.68 and a beta of 1.64.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly 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. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The firm had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $21.46 billion. During the same quarter last year, the firm earned $0.34 earnings per share. The company's revenue for the quarter was up .2% on a year-over-year basis. Analysts predict that Energy Transfer LP will post 1.57 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders 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 7.93%. The ex-dividend date is Friday, May 10th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. Energy Transfer's payout ratio is 115.60%.

Hedge Funds Weigh In On Energy Transfer

A number of hedge funds have recently made changes to their positions in ET. Alps Advisors Inc. lifted its holdings in Energy Transfer by 14.5% in the third quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company's stock valued at $1,033,541,000 after buying an additional 9,341,798 shares during the period. UBS Group AG lifted its stake in shares of Energy Transfer by 13.3% in the 4th quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company's stock valued at $395,270,000 after purchasing an additional 3,368,427 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Energy Transfer by 38.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company's stock worth $353,576,000 after purchasing an additional 7,097,074 shares during the period. Clearbridge Investments LLC increased its holdings in Energy Transfer by 18.5% in the fourth quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company's stock worth $350,845,000 after purchasing an additional 3,976,676 shares in the last quarter. Finally, First Reserve GP XIII Ltd acquired a new position in Energy Transfer in the fourth quarter valued at approximately $322,097,000. 38.22% of the stock is currently owned by 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.