Energy Transfer (NYSE:ET) Trading Up 0.6%

Energy Transfer LP (NYSE:ET) shot up 0.6% during mid-day trading on Thursday . The stock traded as high as $15.63 and last traded at $15.58. 2,613,086 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 12,146,226 shares. The stock had previously closed at $15.48.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ET. UBS Group dropped their price objective on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. Mizuho reaffirmed a “buy” rating and set a $19.00 price target (up previously from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. Finally, Citigroup boosted their price objective 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 equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Energy Transfer currently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Energy Transfer Stock Performance

The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88. The firm has a market capitalization of $53.14 billion, a PE ratio of 14.29 and a beta of 1.63. The firm has a fifty day moving average price of $15.42 and a 200 day moving average price of $14.37.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.08. The business had revenue of $20.53 billion for the quarter, compared to the consensus estimate of $21.46 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the firm posted $0.34 earnings per share. Research analysts anticipate that Energy Transfer LP will post 1.56 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. Stockholders 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 8.04%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, May 10th. Energy Transfer’s dividend payout ratio is 115.60%.

Hedge Funds Weigh In On Energy Transfer

A number of hedge funds have recently modified their holdings of the stock. First Reserve GP XIII Ltd acquired a new position in shares of Energy Transfer during the 4th quarter worth $322,097,000. Alps Advisors Inc. increased its position in Energy Transfer by 14.5% during the third quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock worth $1,033,541,000 after buying an additional 9,341,798 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings 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 valued at $353,576,000 after buying an additional 7,097,074 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of 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 buying an additional 3,976,676 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of Energy Transfer by 1,447.6% during the 4th quarter. International Assets Investment Management LLC now owns 3,756,955 shares of the pipeline company’s stock worth $518,460,000 after acquiring an additional 3,514,195 shares in the last quarter. 38.22% of the stock is 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.