Energy Transfer (NYSE:ET) Trading Down 0.1%

Shares of Energy Transfer LP (NYSE:ET) dropped 0.1% during trading on Wednesday . The stock traded as low as $15.79 and last traded at $15.89. Approximately 1,584,771 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 12,331,743 shares. The stock had previously closed at $15.90.

Wall Street Analysts Forecast Growth

ET has been the topic of several recent analyst reports. UBS Group decreased their price target 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. Mizuho reissued a “buy” rating and issued a $19.00 price objective (up previously from $18.00) on shares of Energy Transfer in a research note on Thursday, April 18th. Finally, Citigroup boosted their price objective on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Energy Transfer has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Energy Transfer Stock Up 0.5 %

The firm has a fifty day simple moving average of $15.33 and a 200-day simple moving average of $14.31. The company has a market capitalization of $53.72 billion, a P/E ratio of 14.63 and a beta of 1.64. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.29 by $0.08. The firm had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 EPS. On average, equities research analysts expect that Energy Transfer LP will post 1.48 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be paid a $0.317 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, May 10th. This represents a $1.27 annualized dividend and a yield of 7.95%. Energy Transfer’s payout ratio is presently 115.60%.

Institutional Investors Weigh In On Energy Transfer

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Chicago Partners Investment Group LLC raised its stake in shares of Energy Transfer by 5.4% during the 1st quarter. Chicago Partners Investment Group LLC now owns 2,941,452 shares of the pipeline company’s stock worth $46,769,000 after purchasing an additional 151,405 shares in the last quarter. HTLF Bank raised its stake in Energy Transfer by 5.7% in the 1st quarter. HTLF Bank now owns 18,649 shares of the pipeline company’s stock valued at $293,000 after acquiring an additional 1,000 shares during the period. Kercheville Advisors LLC raised its stake in Energy Transfer by 29.8% in the 1st quarter. Kercheville Advisors LLC now owns 114,900 shares of the pipeline company’s stock valued at $1,807,000 after acquiring an additional 26,400 shares during the period. Summit Financial LLC raised its stake in Energy Transfer by 16.3% in the 1st quarter. Summit Financial LLC now owns 174,193 shares of the pipeline company’s stock valued at $2,740,000 after acquiring an additional 24,464 shares during the period. Finally, Albert D Mason Inc. raised its stake in Energy Transfer by 1.1% in the 1st quarter. Albert D Mason Inc. now owns 114,237 shares of the pipeline company’s stock valued at $1,797,000 after acquiring an additional 1,252 shares during the period. Institutional investors own 38.22% of the company’s stock.

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.