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

Energy Transfer LP (NYSE:ET) was down 0.2% during mid-day trading on Tuesday . The stock traded as low as $18.40 and last traded at $18.67. Approximately 4,052,663 shares traded hands during trading, a decline of 70% from the average daily volume of 13,620,939 shares. The stock had previously closed at $18.70.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ET shares. UBS Group boosted their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Bank of America started coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective for the company. Wells Fargo & Company lifted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday. The Goldman Sachs Group increased their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Royal Bank of Canada raised their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.40.

Energy Transfer Stock Up 0.4 %

The stock has a market cap of $62.55 billion, a P/E ratio of 13.43, a PEG ratio of 0.63 and a beta of 1.70. The stock’s fifty day simple moving average is $17.72 and its 200-day simple moving average is $16.60. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. During the same period last year, the firm posted $0.31 EPS. Energy Transfer’s quarterly revenue was up .2% compared to the same quarter last year. On average, research analysts anticipate that Energy Transfer LP will post 1.32 earnings per share for the current year.

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a yield of 7.06%. The ex-dividend date was Friday, November 8th. Energy Transfer’s payout ratio is currently 94.85%.

Institutional Trading of Energy Transfer

Several institutional investors and hedge funds have recently bought and sold shares of ET. FMR LLC increased its position in Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after purchasing an additional 10,195,768 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its holdings in Energy Transfer by 12.7% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock worth $594,769,000 after buying an additional 4,141,715 shares during the last quarter. International Assets Investment Management LLC raised its position in Energy Transfer by 1,491.0% during the third quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock valued at $67,020,000 after acquiring an additional 3,913,266 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Energy Transfer by 36.7% in the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock valued at $185,594,000 after acquiring an additional 3,106,631 shares during the last quarter. Finally, Citigroup Inc. grew its position in Energy Transfer by 45.9% in the third quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after acquiring an additional 3,013,973 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.