Energy Transfer (NYSE:ET – Free Report) had its price objective upped by JPMorgan Chase & Co. from $19.00 to $20.00 in a report released on Thursday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the pipeline company’s stock.
A number of other brokerages have also issued reports on ET. Stifel Nicolaus raised their price target on Energy Transfer from $18.00 to $19.00 and gave the stock a buy rating in a research note on Thursday, May 9th. UBS Group raised their price target on Energy Transfer from $23.00 to $24.00 and gave the stock a buy rating in a research note on Wednesday, May 15th. Mizuho raised their price target on Energy Transfer from $19.00 to $20.00 and gave the stock a buy rating in a research note on Tuesday. Citigroup raised their price target on Energy Transfer from $17.00 to $18.00 and gave the stock a buy rating in a research note on Wednesday, February 21st. Finally, Morgan Stanley raised their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an overweight rating in a report on Monday, June 10th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $19.29.
Check Out Our Latest Analysis on ET
Energy Transfer Stock Up 1.6 %
ET opened at $15.73 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37. The firm has a market cap of $53.01 billion, a P/E ratio of 14.43, a PEG ratio of 0.43 and a beta of 1.63. Energy Transfer has a 52 week low of $12.46 and a 52 week high of $16.40. The business’s fifty day simple moving average is $15.66 and its 200 day simple moving average is $14.90.
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 analysts’ consensus estimates of $0.36 by ($0.04). Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The business had revenue of $21.63 billion during the quarter, compared to analyst estimates of $20.91 billion. During the same period in the previous year, the business posted $0.32 earnings per share. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. As a group, equities research analysts anticipate that Energy Transfer will post 1.43 EPS for the current fiscal year.
Energy Transfer Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were issued a dividend of $0.317 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a dividend yield of 8.06%. The ex-dividend date was Friday, May 10th. Energy Transfer’s dividend payout ratio (DPR) is presently 116.51%.
Institutional Investors Weigh In On Energy Transfer
Several hedge funds have recently modified their holdings of ET. First Reserve GP XIII Ltd purchased a new stake in shares of Energy Transfer during the 4th quarter valued at about $322,097,000. Alps Advisors Inc. increased its holdings in Energy Transfer by 14.5% during the 3rd quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock worth $1,033,541,000 after purchasing an additional 9,341,798 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Energy Transfer by 38.3% during the 4th 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 last quarter. Clearbridge Investments LLC increased its holdings in Energy Transfer by 18.5% during the 4th 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 during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in 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 purchasing an additional 3,514,195 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.
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.
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Source: defenseworld.net