Energy Transfer (NYSE:ET) Trading Down 1.7% – What’s Next?

Shares of Energy Transfer LP (NYSE:ET) were down 1.7% during mid-day trading on Tuesday . The company traded as low as $18.25 and last traded at $18.65. Approximately 10,563,483 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 16,696,553 shares. The stock had previously closed at $18.97.

Analyst Ratings Changes

A number of analysts have issued reports on ET shares. Royal Bank of Canada raised their target price on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Stifel Nicolaus raised their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group boosted their target price 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. Citigroup lifted their price target on shares of Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Wells Fargo & Company increased their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. One equities research 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 has a consensus rating of “Moderate Buy” and an average target price of $21.55.

Energy Transfer Stock Performance

The company has a market capitalization of $64.00 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 0.64 and a beta of 1.69. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The firm has a 50-day simple moving average of $19.88 and a two-hundred day simple moving average of $17.95.

Energy Transfer (NYSE:ET) last announced its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. On average, sell-side analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were issued a $0.325 dividend. The ex-dividend date of this dividend was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a yield of 6.97%. Energy Transfer’s dividend payout ratio (DPR) is 101.56%.

Institutional Investors Weigh In On Energy Transfer

A number of hedge funds have recently bought and sold shares of ET. Mountain Hill Investment Partners Corp. acquired a new position in shares of Energy Transfer during the 4th quarter worth about $25,000. Princeton Global Asset Management LLC grew its position in shares of Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after buying an additional 650 shares during the last quarter. Assetmark Inc. raised its stake in Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 1,668 shares in the last quarter. GAMMA Investing LLC purchased a new stake in Energy Transfer in the fourth quarter valued at $29,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of Energy Transfer in the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

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.