Energy Transfer (NYSE:ET) Stock Price Down 1.3% – Here’s Why

Shares of Energy Transfer LP (NYSE:ET) traded down 1.3% during trading on Thursday . The stock traded as low as $19.77 and last traded at $19.87. 3,668,363 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 16,517,305 shares. The stock had previously closed at $20.12.

Analysts Set New Price Targets

Several analysts have commented on the stock. Royal Bank of Canada lifted their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. The Goldman Sachs Group lifted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Wells Fargo & Company lifted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Barclays lifted their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, Stifel Nicolaus lifted their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and an average target price of $21.50.

Energy Transfer Price Performance

The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The firm has a market cap of $66.55 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69. The company’s fifty day moving average is $19.87 and its two-hundred day moving average is $17.90.

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 the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. Equities 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. Shareholders of record on Friday, February 7th were issued a $0.325 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a yield of 6.70%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 101.56%.

Institutional Investors Weigh In On Energy Transfer

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vermillion Wealth Management Inc. bought a new stake in shares of Energy Transfer during the 4th quarter valued at about $46,000. AlphaCore Capital LLC grew its position in Energy Transfer by 20.5% in the 4th quarter. AlphaCore Capital LLC now owns 12,264 shares of the pipeline company’s stock worth $240,000 after purchasing an additional 2,090 shares during the last quarter. Forum Financial Management LP grew its position in Energy Transfer by 2.3% in the 4th quarter. Forum Financial Management LP now owns 126,394 shares of the pipeline company’s stock worth $2,476,000 after purchasing an additional 2,797 shares during the last quarter. Sunbeam Capital Management LLC bought a new position in Energy Transfer in the 4th quarter worth about $330,000. Finally, Michels Family Financial LLC bought a new position in Energy Transfer in the 4th quarter worth about $502,000. Institutional investors own 38.22% of the company’s stock.

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.