Energy Transfer (NYSE:ET) Shares Down 1.1% – What’s Next?

Energy Transfer LP (NYSE:ET)’s share price was down 1.1% during mid-day trading on Thursday . The stock traded as low as $20.41 and last traded at $20.56. Approximately 3,896,033 shares were traded during trading, a decline of 77% from the average daily volume of 17,141,037 shares. The stock had previously closed at $20.79.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Royal Bank of Canada raised their price objective 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. Barclays raised their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Bank of America assumed coverage on Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective for the company. The Goldman Sachs Group raised their price objective on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Finally, Wells Fargo & Company upped their target price on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus target price of $20.82.

Energy Transfer Trading Down 2.2 %

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 $68.19 billion, a PE ratio of 14.64, a P/E/G ratio of 0.52 and a beta of 1.69. The stock’s 50-day simple moving average is $19.71 and its 200-day simple moving average is $17.64.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. During the same quarter in the previous year, the company earned $0.31 earnings per share. Energy Transfer’s quarterly revenue was up .2% on a year-over-year basis. As a group, sell-side analysts expect that Energy Transfer LP will post 1.37 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be given a $0.325 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 6.53%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 94.85%.

Institutional Investors Weigh In On Energy Transfer

Hedge funds have recently made changes to their positions in the company. Princeton Global Asset Management LLC boosted its position in shares of 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 worth $26,000 after purchasing an additional 650 shares in the last quarter. Assetmark Inc. raised its stake in Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after buying an additional 1,668 shares during the last quarter. GAMMA Investing LLC bought a new stake in Energy Transfer in the fourth quarter worth $29,000. United Community Bank purchased a new stake in shares of Energy Transfer in the fourth quarter worth $35,000. Finally, Financial Life Planners purchased a new position in shares of Energy Transfer in the 4th quarter worth about $37,000. 38.22% of the stock is currently 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.