Energy Transfer (NYSE:ET) Trading Down 0.2% – Here’s What Happened

Energy Transfer LP (NYSE:ET)’s share price fell 0.2% on Thursday . The company traded as low as $19.55 and last traded at $19.61. 3,495,931 shares were traded during trading, a decline of 79% from the average session volume of 16,999,039 shares. The stock had previously closed at $19.65.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ET. Bank of America initiated coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective on the stock. Royal Bank of Canada boosted 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. Barclays raised their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Stifel Nicolaus lifted their target price on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Company increased their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.18.

Energy Transfer Stock Performance

The company has a fifty day moving average price of $19.75 and a two-hundred day moving average price of $17.72. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The company has a market capitalization of $67.71 billion, a P/E ratio of 14.54, a PEG ratio of 0.52 and a beta of 1.69.

Energy Transfer (NYSE:ET) last posted its 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 12.38% and a net margin of 5.90%. Equities analysts forecast that Energy Transfer LP will post 1.37 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 6.57%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, February 7th. Energy Transfer’s dividend payout ratio is presently 94.85%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC boosted its position in shares of Energy Transfer by 60.6% during the 3rd quarter. CWM LLC now owns 98,436 shares of the pipeline company’s stock valued at $1,580,000 after purchasing an additional 37,136 shares in the last quarter. Wesbanco Bank Inc. boosted its holdings in shares of Energy Transfer by 48.9% during the 3rd quarter. Wesbanco Bank Inc. now owns 36,521 shares of the pipeline company’s stock worth $586,000 after buying an additional 12,000 shares in the last quarter. Creative Planning grew its position in shares of Energy Transfer by 16.9% during the 3rd quarter. Creative Planning now owns 796,099 shares of the pipeline company’s stock worth $12,777,000 after buying an additional 115,081 shares during the period. NBC Securities Inc. grew its position in shares of Energy Transfer by 6.8% during the 3rd quarter. NBC Securities Inc. now owns 68,738 shares of the pipeline company’s stock worth $1,103,000 after buying an additional 4,381 shares during the period. Finally, Magnus Financial Group LLC increased its stake in shares of Energy Transfer by 19.0% in the 3rd quarter. Magnus Financial Group LLC now owns 21,455 shares of the pipeline company’s stock valued at $344,000 after acquiring an additional 3,429 shares in the last quarter. 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.