Energy Transfer (NYSE:ET) Trading Down 1.4% – What’s Next?

Energy Transfer LP (NYSE:ET) traded down 1.4% during mid-day trading on Monday . The company traded as low as $16.95 and last traded at $17.22. 11,265,797 shares traded hands during trading, a decline of 36% from the average session volume of 17,601,816 shares. The stock had previously closed at $17.46.

Analysts Set New Price Targets

A number of brokerages recently commented on ET. Stifel Nicolaus boosted their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group boosted their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Royal Bank of Canada increased their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, Citigroup lifted their price objective on shares of Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.55.

Energy Transfer Stock Down 1.0 %

The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The business’s fifty day moving average price is $19.81 and its two-hundred day moving average price is $18.12. The stock has a market capitalization of $59.33 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. On average, equities research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 7.52%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. Energy Transfer’s dividend payout ratio is presently 101.56%.

Hedge Funds Weigh In On Energy Transfer

A number of institutional investors have recently modified their holdings of ET. Alpha Wealth Funds LLC purchased a new position in Energy Transfer during the fourth quarter valued at approximately $2,143,000. Jefferies Financial Group Inc. increased its holdings in shares of Energy Transfer by 125.0% during the 4th quarter. Jefferies Financial Group Inc. now owns 469,227 shares of the pipeline company’s stock valued at $9,192,000 after purchasing an additional 260,700 shares in the last quarter. Carolinas Wealth Consulting LLC increased its holdings in shares of Energy Transfer by 27.6% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 4,957 shares of the pipeline company’s stock valued at $97,000 after purchasing an additional 1,073 shares in the last quarter. Capital A Wealth Management LLC acquired a new position in shares of Energy Transfer in the 4th quarter valued at $26,000. Finally, Leigh Baldwin & CO. LLC purchased a new stake in Energy Transfer during the fourth quarter worth $244,000. Hedge funds and other 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.