Energy Transfer (NYSE:ET) Trading Down 0.4%

Energy Transfer LP (NYSE:ET)’s share price was down 0.4% on Tuesday . The company traded as low as $16.28 and last traded at $16.32. Approximately 2,221,279 shares changed hands during trading, a decline of 82% from the average daily volume of 12,081,909 shares. The stock had previously closed at $16.38.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ET shares. Morgan Stanley lifted their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. JPMorgan Chase & Co. lifted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. Stifel Nicolaus upped their price objective on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Mizuho raised their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Finally, UBS Group boosted their price target on shares of Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Energy Transfer currently has a consensus rating of “Moderate Buy” and an average target price of $19.29.

Energy Transfer Trading Down 0.3 %

The company has a market cap of $54.36 billion, a price-to-earnings ratio of 14.83, a P/E/G ratio of 0.45 and a beta of 1.66. The business has a fifty day simple moving average of $15.87 and a 200 day simple moving average of $15.32. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.04). Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The company had revenue of $21.63 billion during the quarter, compared to analyst estimates of $20.91 billion. During the same quarter last year, the business earned $0.32 EPS. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, equities analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Energy Transfer

Institutional investors and hedge funds have recently modified their holdings of the company. Fullcircle Wealth LLC purchased a new position in shares of Energy Transfer in the second quarter valued at $412,000. LRI Investments LLC increased its holdings in Energy Transfer by 567.9% during the 2nd quarter. LRI Investments LLC now owns 12,290 shares of the pipeline company’s stock valued at $199,000 after acquiring an additional 10,450 shares in the last quarter. EdgeRock Capital LLC acquired a new position in Energy Transfer during the second quarter worth about $42,000. Silverleafe Capital Partners LLC lifted its holdings in shares of Energy Transfer by 9.5% in the second quarter. Silverleafe Capital Partners LLC now owns 17,588 shares of the pipeline company’s stock valued at $285,000 after purchasing an additional 1,525 shares in the last quarter. Finally, TrueWealth Advisors LLC acquired a new stake in shares of Energy Transfer in the second quarter valued at approximately $171,000. Institutional investors and hedge funds 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.