Energy Transfer (NYSE:ET) Stock Price Down 3.1% – Here’s What Happened

Energy Transfer LP (NYSE:ET)’s share price traded down 3.1% during mid-day trading on Monday . The stock traded as low as $14.60 and last traded at $15.66. 23,102,339 shares traded hands during trading, an increase of 55% from the average session volume of 14,880,166 shares. The stock had previously closed at $16.16.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Royal Bank of Canada restated an “outperform” rating and issued a $23.00 target price on shares of Energy Transfer in a research note on Tuesday, March 25th. Morgan Stanley lifted their price target on Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Stifel Nicolaus increased their price target on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Barclays increased their target price on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.09.

Energy Transfer Stock Down 1.5 %

The firm has a 50-day moving average of $19.10 and a two-hundred day moving average of $18.46. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $54.61 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. Equities research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were paid a $0.325 dividend. The ex-dividend date of this dividend was Friday, February 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a dividend yield of 8.17%. Energy Transfer’s payout ratio is presently 101.56%.

Institutional Trading of Energy Transfer

A number of institutional investors and hedge funds have recently bought and sold shares of ET. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Energy Transfer in the 4th quarter valued at $25,000. Capital A Wealth Management LLC acquired a new stake in Energy Transfer in the fourth quarter valued at $26,000. GAMMA Investing LLC acquired a new stake in Energy Transfer in the fourth quarter valued at $29,000. Fourth Dimension Wealth LLC purchased a new stake in Energy Transfer during the 4th quarter worth about $29,000. Finally, United Community Bank acquired a new position in shares of Energy Transfer during the 4th quarter worth about $35,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

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.