Energy Transfer (NYSE:ET) Shares Down 0.8%

Shares of Energy Transfer LP (NYSE:ET) traded down 0.8% during mid-day trading on Thursday . The stock traded as low as $15.58 and last traded at $15.60. 2,783,280 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 12,178,670 shares. The stock had previously closed at $15.73.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. UBS Group upped their target price on Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Stifel Nicolaus increased their price target on Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Mizuho reiterated a “buy” rating and issued a $19.00 price target (up from $18.00) on shares of Energy Transfer in a research note on Thursday, April 18th. Finally, Citigroup increased their price target on Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.43.

Energy Transfer Price Performance

The firm has a market capitalization of $51.76 billion, a PE ratio of 14.12 and a beta of 1.63. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. The business’s 50 day moving average is $15.74 and its two-hundred day moving average is $14.62.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The business had revenue of $21.63 billion during the quarter, compared to analysts’ expectations of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 earnings per share. Equities research analysts anticipate that Energy Transfer LP will post 1.5 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were issued a dividend of $0.317 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 dividend on an annualized basis and a dividend yield of 8.26%. The ex-dividend date was Friday, May 10th. Energy Transfer’s payout ratio is currently 116.51%.

Institutional Trading of Energy Transfer

Hedge funds have recently added to or reduced their stakes in the business. Northwest Financial Advisors bought a new position in shares of Energy Transfer during the fourth quarter valued at about $25,000. Rise Advisors LLC boosted its position in Energy Transfer by 88.2% during the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 927 shares in the last quarter. LRI Investments LLC bought a new stake in Energy Transfer during the 1st quarter valued at approximately $29,000. Atlantic Edge Private Wealth Management LLC bought a new stake in Energy Transfer during the 4th quarter valued at approximately $33,000. Finally, Harbor Investment Advisory LLC boosted its position in Energy Transfer by 42.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 750 shares in the last quarter. 38.22% of the stock is owned by 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.