Energy Transfer (NYSE:ET) Shares Down 1%

Energy Transfer LP (NYSE:ET)’s stock price traded down 1% during mid-day trading on Tuesday . The company traded as low as $15.77 and last traded at $15.82. 4,503,458 shares traded hands during trading, a decline of 63% from the average session volume of 12,133,672 shares. The stock had previously closed at $15.98.

Wall Street Analyst Weigh In

A number of research firms have commented on ET. Mizuho restated a “buy” rating and set a $19.00 target price (up previously from $18.00) on shares of Energy Transfer in a research note on Thursday, April 18th. UBS Group lowered their target price on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Finally, Citigroup increased their price target 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 assigned a buy rating to the company. According to data from MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Energy Transfer Price Performance

The stock’s 50-day moving average is $15.39 and its two-hundred day moving average is $14.35. The company has a market capitalization of $53.03 billion, a PE ratio of 14.51 and a beta of 1.64. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. The business had revenue of $20.53 billion for the quarter, compared to the consensus estimate of $21.46 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. During the same period in the prior year, the firm earned $0.34 EPS. The company’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities analysts predict that Energy Transfer LP will post 1.57 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be issued a dividend of $0.317 per share. This represents a $1.27 annualized dividend and a yield of 8.06%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, May 10th. Energy Transfer’s dividend payout ratio is presently 115.60%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ET. Northwest Financial Advisors purchased a new position in shares of Energy Transfer in the 4th quarter valued at approximately $25,000. Rise Advisors LLC grew its holdings in shares of Energy Transfer by 88.2% during the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after buying an additional 927 shares during the last quarter. Atlantic Edge Private Wealth Management LLC purchased a new position in Energy Transfer in the 4th quarter worth $33,000. Harbor Investment Advisory LLC lifted 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 worth $34,000 after acquiring an additional 750 shares during the period. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in Energy Transfer during the 4th quarter valued at about $34,000. 38.22% of the stock is currently owned by hedge funds and other 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.