Energy Transfer (NYSE:ET) Trading Down 1.4%

Energy Transfer LP (NYSE:ET) traded down 1.4% on Tuesday . The company traded as low as $14.97 and last traded at $15.02. 6,219,346 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 12,245,048 shares. The stock had previously closed at $15.23.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Citigroup lifted their price target on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. UBS Group lowered their target price on Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $17.57.

Energy Transfer Stock Performance

The company has a 50 day simple moving average of $15.08 and a 200-day simple moving average of $14.20. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88. The stock has a market capitalization of $50.95 billion, a P/E ratio of 13.78 and a beta of 1.64.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.08. The business had revenue of $20.53 billion during the quarter, compared to analyst estimates of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. Energy Transfer’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 earnings per share. On average, equities analysts forecast that Energy Transfer LP will post 1.44 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Wednesday, February 7th were issued a dividend of $0.315 per share. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $1.26 annualized dividend and a dividend yield of 8.33%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.31. Energy Transfer’s dividend payout ratio (DPR) is currently 115.60%.

Institutional Investors Weigh In On Energy Transfer

Hedge funds and other institutional investors have recently modified their holdings of the stock. Northwest Financial Advisors purchased a new position in shares of Energy Transfer in the fourth quarter valued at about $25,000. Rise Advisors LLC grew its stake in shares of Energy Transfer by 88.2% in the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 927 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Energy Transfer during the 1st quarter valued at about $25,000. IMA Wealth Inc. raised its position in Energy Transfer by 100.0% during the 2nd quarter. IMA Wealth Inc. now owns 2,400 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Atlantic Edge Private Wealth Management LLC purchased a new stake in Energy Transfer in the 4th quarter worth approximately $33,000. Institutional investors own 38.22% of the company’s stock.

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.