Energy Transfer (NYSE:ET) Trading 0.5% Higher After Analyst Upgrade

Energy Transfer LP (NYSE:ET - Get Free Report)'s stock price shot up 0.5% during trading on Thursday after Stifel Nicolaus raised their price target on the stock from $18.00 to $19.00. Stifel Nicolaus currently has a buy rating on the stock. Energy Transfer traded as high as $16.40 and last traded at $16.33. 7,240,927 shares changed hands during trading, a decline of 40% from the average session volume of 12,165,323 shares. The stock had previously closed at $16.25.

A number of other analysts also recently commented on ET. Mizuho reiterated a "buy" rating and issued a $19.00 price objective (up previously from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. UBS Group dropped their price target on shares of Energy Transfer from $23.00 to $22.00 and set a "buy" rating for the company in a research report on Thursday, February 15th. Finally, Citigroup upped their price objective 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. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Energy Transfer currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.14.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwest Financial Advisors purchased a new stake in shares of Energy Transfer during the fourth quarter worth about $25,000. Rise Advisors LLC lifted its holdings in Energy Transfer by 88.2% during the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company's stock worth $27,000 after buying an additional 927 shares during the last quarter. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Energy Transfer in the 4th quarter valued at approximately $33,000. Harbor Investment Advisory LLC raised its position in shares of Energy Transfer by 42.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company's stock valued at $34,000 after acquiring an additional 750 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new position in Energy Transfer during the fourth quarter worth $34,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Stock Performance

The company has a market capitalization of $54.68 billion, a P/E ratio of 14.89 and a beta of 1.63. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37. The stock's 50-day moving average price is $15.55 and its 200-day moving average price is $14.44.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). The firm had revenue of $21.63 billion for the quarter, compared to analyst estimates of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The firm's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 earnings per share. As a group, equities analysts expect that Energy Transfer LP will post 1.56 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be issued a dividend of $0.317 per share. This represents a $1.27 annualized dividend and a dividend yield of 7.81%. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, May 10th. Energy Transfer's payout ratio is currently 116.51%.

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.