Energy Transfer (NYSE:ET) Trading Down 0.6% – What’s Next?

Energy Transfer LP (NYSE:ET)’s share price traded down 0.6% during mid-day trading on Monday . The company traded as low as $18.22 and last traded at $18.61. 4,306,615 shares were traded during trading, a decline of 70% from the average session volume of 14,551,229 shares. The stock had previously closed at $18.71.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ET shares. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Citigroup restated a “buy” rating on shares of Energy Transfer in a report on Monday, March 24th. The Goldman Sachs Group increased their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. 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. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $23.00 price objective on shares of Energy Transfer in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.09.

Energy Transfer Trading Down 1.0 %

The company has a 50 day moving average price of $19.46 and a two-hundred day moving average price of $18.39. The firm has a market capitalization of $63.53 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 0.64 and a beta of 1.72. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) 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, research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were issued a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 7.02%. The ex-dividend date was Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 101.56%.

Hedge Funds Weigh In On Energy Transfer

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