Energy Transfer (NYSE:ET) Stock Price Down 1.1% – Here’s Why

Energy Transfer LP (NYSE:ET)’s stock price dropped 1.1% during trading on Friday . The company traded as low as $19.51 and last traded at $19.52. Approximately 3,667,272 shares changed hands during trading, a decline of 70% from the average daily volume of 12,185,768 shares. The stock had previously closed at $19.73.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ET shares. The Goldman Sachs Group boosted their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Royal Bank of Canada upped their price target 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. UBS Group lifted their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Bank of America assumed coverage on Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. Finally, Wells Fargo & Company upped their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.55.

Energy Transfer Stock Down 1.5 %

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

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The firm 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 firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 EPS. As a group, equities research analysts forecast that Energy Transfer LP will post 1.32 earnings per share for the current year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were issued a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 6.64%. Energy Transfer’s payout ratio is currently 94.85%.

Institutional Trading of Energy Transfer

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC acquired a new position in Energy Transfer in the fourth quarter valued at $29,000. Princeton Global Asset Management LLC increased its position in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 650 shares during the period. Assetmark Inc. increased its position in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 1,668 shares during the period. HWG Holdings LP acquired a new position in shares of Energy Transfer in the second quarter valued at approximately $33,000. Finally, Continuum Advisory LLC increased its stake in Energy Transfer by 44.8% in the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock valued at $40,000 after buying an additional 729 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

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.