Energy Transfer (NYSE:ET) Trading Down 1.5% – Here’s What Happened

Energy Transfer LP (NYSE:ET)’s stock price traded down 1.5% during trading on Friday . The stock traded as low as $18.57 and last traded at $18.57. 1,642,821 shares were traded during trading, a decline of 89% from the average session volume of 14,448,048 shares. The stock had previously closed at $18.85.

Analyst Ratings Changes

ET has been the topic of several research reports. Wells Fargo & Company upped their target price on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Royal Bank of Canada increased their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. The Goldman Sachs Group raised their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Finally, Citigroup upped their price objective on shares of Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.55.

Energy Transfer Stock Performance

The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The firm has a market cap of $63.67 billion, a PE ratio of 14.50, a P/E/G ratio of 0.64 and a beta of 1.72. The firm has a 50-day moving average price of $19.59 and a two-hundred day moving average price of $18.24.

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

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a dividend of $0.325 per share. The ex-dividend date was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a yield of 7.01%. Energy Transfer’s payout ratio is presently 101.56%.

Institutional Investors Weigh In On Energy Transfer

Large investors have recently made changes to their positions in the stock. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Energy Transfer during the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC purchased a new position in Energy Transfer in the fourth quarter worth approximately $26,000. GAMMA Investing LLC acquired a new stake in Energy Transfer during the fourth quarter worth $29,000. Fourth Dimension Wealth LLC acquired a new stake in Energy Transfer during the fourth quarter worth $29,000. Finally, United Community Bank purchased a new stake in Energy Transfer in the fourth quarter valued at $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.