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

Energy Transfer LP (NYSE:ET)’s stock price fell 1.3% on Thursday . The company traded as low as $19.77 and last traded at $19.87. 3,668,363 shares were traded 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.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ET. Wells Fargo & Company upped their price target 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. Royal Bank of Canada increased their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. The Goldman Sachs Group increased their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Stifel Nicolaus increased their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, Barclays increased their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.50.

Energy Transfer Price Performance

The stock’s fifty day moving average price is $19.87 and its 200-day moving average price is $17.90. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. 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.

Energy Transfer (NYSE:ET) last released 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%. Equities research analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 6.70%. The ex-dividend date was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 101.56%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ET. Blue Trust Inc. increased its stake in Energy Transfer by 173.1% in the 3rd quarter. Blue Trust Inc. now owns 11,783 shares of the pipeline company’s stock valued at $191,000 after buying an additional 7,468 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of Energy Transfer by 37.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 47,192 shares of the pipeline company’s stock worth $757,000 after purchasing an additional 12,787 shares during the last quarter. Signaturefd LLC increased its stake in shares of Energy Transfer by 12.6% during the 3rd quarter. Signaturefd LLC now owns 27,419 shares of the pipeline company’s stock worth $440,000 after purchasing an additional 3,075 shares during the last quarter. Eastern Bank acquired a new position in shares of Energy Transfer during the 3rd quarter worth $109,000. Finally, Private Advisor Group LLC increased its stake in shares of Energy Transfer by 8.3% during the 3rd quarter. Private Advisor Group LLC now owns 611,157 shares of the pipeline company’s stock worth $9,809,000 after purchasing an additional 46,821 shares during the last quarter. 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.