Energy Transfer (NYSE:ET) Stock Price Down 0.2% – What’s Next?

Shares of Energy Transfer LP (NYSE:ET) traded down 0.2% during trading on Monday . The company traded as low as $18.69 and last traded at $18.82. 2,363,116 shares traded hands during trading, a decline of 83% from the average session volume of 13,726,217 shares. The stock had previously closed at $18.86.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ET. UBS Group increased their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. The Goldman Sachs Group raised their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Bank of America assumed coverage on Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. Royal Bank of Canada lifted their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, Barclays upped their price objective on Energy Transfer from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, December 20th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.55.

Energy Transfer Stock Performance

The stock’s fifty day moving average price is $17.92 and its two-hundred day moving average price is $16.71. The company has a market cap of $67.11 billion, a P/E ratio of 14.41, a P/E/G ratio of 0.63 and a beta of 1.70. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. During the same period in the prior year, the company earned $0.31 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. As a group, equities analysts predict that Energy Transfer LP will post 1.32 earnings per share for the current year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a $0.3225 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.58%. Energy Transfer’s payout ratio is currently 94.85%.

Hedge Funds Weigh In On Energy Transfer

A number of institutional investors have recently added to or reduced their stakes in ET. Princeton Global Asset Management LLC increased its holdings in shares of Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares in the last quarter. Assetmark Inc. grew its position 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 during the last quarter. HWG Holdings LP acquired a new position in Energy Transfer in the 2nd quarter worth about $33,000. Sugarloaf Wealth Management LLC raised its position in Energy Transfer by 43.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 750 shares during the last quarter. Finally, Continuum Advisory LLC grew its holdings in shares of Energy Transfer by 44.8% during the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 729 shares during the last quarter. 38.22% of the stock is currently 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.