Energy Transfer (NYSE:ET) Shares Down 0.9% – Here’s Why

Energy Transfer LP (NYSE:ET)’s stock price traded down 0.9% on Friday . The stock traded as low as $18.58 and last traded at $18.71. 2,317,039 shares were traded during trading, a decline of 84% from the average session volume of 14,456,998 shares. The stock had previously closed at $18.88.

Analysts Set New Price Targets

ET has been the subject of a number of recent research reports. Barclays raised their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Citigroup reissued a “buy” rating on shares of Energy Transfer in a research report on Monday. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Stifel Nicolaus lifted their target price on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price target on shares of Energy Transfer in a research report on Tuesday. 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, Energy Transfer presently has an average rating of “Moderate Buy” and an average target price of $22.09.

Energy Transfer Stock Performance

The company has a fifty day moving average of $19.49 and a two-hundred day moving average of $18.34. The stock has a market capitalization of $63.91 billion, a P/E ratio of 14.55, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last issued 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 net margin of 5.74% and a return on equity of 11.56%. On average, equities analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a $0.325 dividend. This is an increase 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 6.98%. The ex-dividend date was Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is presently 101.56%.

Institutional Trading of Energy Transfer

Hedge funds have recently made changes to their positions in the stock. Mountain Hill Investment Partners Corp. bought a new position in Energy Transfer in the 4th quarter worth about $25,000. Capital A Wealth Management LLC acquired a new stake in shares of Energy Transfer during the 4th quarter valued at $26,000. GAMMA Investing LLC acquired a new stake in shares of Energy Transfer during the fourth quarter worth $29,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Energy Transfer during the fourth quarter valued at $29,000. Finally, United Community Bank purchased a new position in Energy Transfer in the 4th quarter worth about $35,000. Institutional investors 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.