Energy Transfer (NYSE:ET) Trading 0.8% Higher – Time to Buy?

Energy Transfer LP (NYSE:ET)’s stock price traded up 0.8% on Monday . The company traded as high as $20.09 and last traded at $19.98. 10,422,402 shares were traded during trading, a decline of 41% from the average session volume of 17,631,726 shares. The stock had previously closed at $19.82.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Stifel Nicolaus raised their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Royal Bank of Canada raised their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. The Goldman Sachs Group raised their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Wells Fargo & Company raised their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Finally, Barclays raised their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.18.

Energy Transfer Stock Performance

The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The company has a market cap of $68.94 billion, a PE ratio of 15.73, a P/E/G ratio of 0.52 and a beta of 1.69. The business’s fifty day moving average is $19.83 and its 200-day moving average is $17.84.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.66% and a net margin of 5.74%. As a group, research analysts predict that Energy Transfer LP will post 1.47 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be issued a dividend of $0.325 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 6.46%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 101.56%.

Hedge Funds Weigh In On Energy Transfer

Several large investors have recently added to or reduced their stakes in ET. Creative Planning lifted its holdings in Energy Transfer by 16.9% during the third quarter. Creative Planning now owns 796,099 shares of the pipeline company’s stock valued at $12,777,000 after purchasing an additional 115,081 shares in the last quarter. Stratos Wealth Advisors LLC raised its position in shares of Energy Transfer by 3.0% during the third quarter. Stratos Wealth Advisors LLC now owns 39,320 shares of the pipeline company’s stock valued at $631,000 after buying an additional 1,160 shares during the last quarter. Blue Trust Inc. raised its position in shares of Energy Transfer by 173.1% during the third quarter. Blue Trust Inc. now owns 11,783 shares of the pipeline company’s stock valued at $191,000 after buying an additional 7,468 shares during the last quarter. First Citizens Bank & Trust Co. raised its position in shares of Energy Transfer by 22.9% during the third quarter. First Citizens Bank & Trust Co. now owns 14,015 shares of the pipeline company’s stock valued at $225,000 after buying an additional 2,613 shares during the last quarter. Finally, Calton & Associates Inc. bought a new stake in shares of Energy Transfer during the third quarter valued at approximately $513,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

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.