Energy Transfer (NYSE:ET) Trading Down 0.2% – What’s Next?

Energy Transfer LP (NYSE:ET)’s share price dropped 0.2% during mid-day trading on Wednesday . The stock traded as low as $19.36 and last traded at $19.45. Approximately 2,556,475 shares were traded during trading, a decline of 80% from the average daily volume of 12,665,301 shares. The stock had previously closed at $19.49.

Analysts Set New Price Targets

ET has been the subject of a number of research reports. Wells Fargo & Company boosted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. UBS Group boosted their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Bank of America initiated coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target for the company. Royal Bank of Canada boosted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, Barclays boosted their price target on shares of Energy Transfer from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.55.

Energy Transfer Stock Down 1.5 %

The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The firm has a market cap of $66.56 billion, a PE ratio of 14.29, a P/E/G ratio of 0.62 and a beta of 1.70. The firm’s 50 day moving average is $18.67 and its 200-day moving average is $17.03.

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

Energy Transfer Cuts Dividend

The business 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 6.64%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio is currently 94.85%.

Institutional Investors Weigh In On Energy Transfer

Several large investors have recently made changes to their positions in ET. Bank of New York Mellon Corp grew its holdings in Energy Transfer by 32.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 94,442 shares of the pipeline company’s stock valued at $1,532,000 after purchasing an additional 23,079 shares in the last quarter. Natixis Advisors LLC acquired a new stake in Energy Transfer during the 2nd quarter valued at $419,000. National Bank of Canada FI grew its holdings in Energy Transfer by 5.5% during the 2nd quarter. National Bank of Canada FI now owns 28,942 shares of the pipeline company’s stock valued at $473,000 after purchasing an additional 1,500 shares in the last quarter. Choreo LLC grew its holdings in Energy Transfer by 172.8% during the 2nd quarter. Choreo LLC now owns 54,722 shares of the pipeline company’s stock valued at $895,000 after purchasing an additional 34,664 shares in the last quarter. Finally, HHM Wealth Advisors LLC grew its holdings in Energy Transfer by 40.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 5,934 shares of the pipeline company’s stock valued at $96,000 after purchasing an additional 1,700 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.