Energy Transfer (NYSE:ET) Trading Down 5.1% – Here’s What Happened

Energy Transfer LP (NYSE:ET)’s stock price fell 5.1% during mid-day trading on Thursday . The stock traded as low as $17.71 and last traded at $17.97. 13,085,045 shares traded hands during trading, a decline of 10% from the average session volume of 14,571,718 shares. The stock had previously closed at $18.93.

Wall Street Analysts Forecast Growth

ET has been the subject of a number of recent research reports. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Morgan Stanley raised their target price on Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Citigroup reissued a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. Wells Fargo & Company boosted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, The Goldman Sachs Group increased their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $22.09.

Energy Transfer Trading Down 6.5 %

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 business’s 50 day simple moving average is $19.34 and its 200 day simple moving average is $18.43. The stock has a market cap of $60.75 billion, a P/E ratio of 13.83, a PEG ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. On average, analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a $0.325 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 7.34%. Energy Transfer’s dividend payout ratio is presently 101.56%.

Hedge Funds Weigh In On Energy Transfer

Several institutional investors have recently added to or reduced their stakes in ET. Stonegate Investment Group LLC increased its holdings in shares of Energy Transfer by 1.4% during the fourth quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock worth $672,000 after buying an additional 482 shares in the last quarter. Private Client Services LLC grew its position in Energy Transfer by 3.1% during the 4th quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock worth $331,000 after acquiring an additional 511 shares during the last quarter. United Advisor Group LLC increased its holdings in Energy Transfer by 3.0% during the 4th quarter. United Advisor Group LLC now owns 18,540 shares of the pipeline company’s stock valued at $363,000 after purchasing an additional 534 shares in the last quarter. Wealthspire Advisors LLC raised its position in Energy Transfer by 0.4% in the 4th quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock valued at $2,551,000 after purchasing an additional 535 shares during the last quarter. Finally, Cannell & Spears LLC boosted its stake in Energy Transfer by 0.4% in the fourth quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company’s stock worth $2,657,000 after purchasing an additional 546 shares in the last quarter. 38.22% of the stock is owned by 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.