Energy Transfer (NYSE:ET) Stock Price Down 0.2% – Here’s What Happened

Shares of Energy Transfer LP (NYSE:ET) dropped 0.2% during trading on Tuesday . The stock traded as low as $19.51 and last traded at $19.58. Approximately 2,578,058 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 13,322,961 shares. The stock had previously closed at $19.62.

Analysts Set New Price Targets

ET has been the subject of several analyst reports. Wells Fargo & Company raised their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Bank of America initiated coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. Royal Bank of Canada lifted their price objective on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. The Goldman Sachs Group raised their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Finally, UBS Group boosted their price target on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $20.55.

Energy Transfer Stock Performance

The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The company’s 50-day moving average is $18.61 and its two-hundred day moving average is $17.01. The firm has a market cap of $67.49 billion, a P/E ratio of 14.49, a PEG ratio of 0.62 and a beta of 1.70.

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, hitting the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same quarter in the prior year, the company posted $0.31 earnings per share. Energy Transfer’s revenue was up .2% compared to the same quarter last year. As a group, equities analysts predict that Energy Transfer LP will post 1.32 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a yield of 6.54%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Institutional Trading of Energy Transfer

A number of hedge funds have recently bought and sold shares of the business. FMR LLC raised its position in shares of Energy Transfer by 44.0% in the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after purchasing an additional 10,195,768 shares during the period. International Assets Investment Management LLC raised its holdings in Energy Transfer by 1,491.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock valued at $67,020,000 after acquiring an additional 3,913,266 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Energy Transfer by 36.7% during the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after acquiring an additional 3,106,631 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of Energy Transfer by 45.9% in the third quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after acquiring an additional 3,013,973 shares during the period. Finally, Pathway Financial Advisers LLC grew its position in shares of Energy Transfer by 1,837.4% in the third quarter. Pathway Financial Advisers LLC now owns 1,338,885 shares of the pipeline company’s stock valued at $21,489,000 after purchasing an additional 1,269,778 shares in the last quarter. 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.