Energy Transfer (NYSE:ET) Trading Down 0.9% – Here’s Why

Energy Transfer LP (NYSE:ET) shares fell 0.9% on Friday . The company traded as low as $18.58 and last traded at $18.71. 2,317,039 shares were traded during trading, a decline of 84% from the average session volume of 14,456,998 shares. The stock had previously closed at $18.88.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ET shares. The Goldman Sachs Group boosted their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Citigroup reiterated a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. UBS Group restated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 target price on shares of Energy Transfer in a research report on Tuesday, March 25th. Finally, Morgan Stanley raised their price target on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.09.

Energy Transfer Trading Down 0.9 %

The stock has a market cap of $64.22 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. The firm’s 50 day simple moving average is $19.46 and its two-hundred day simple moving average is $18.37. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42.

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%. As a group, equities research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were issued a $0.325 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 6.95%. Energy Transfer’s dividend payout ratio (DPR) is 101.56%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Energy Transfer in the fourth quarter valued at approximately $25,000. Capital A Wealth Management LLC bought a new position in Energy Transfer in the 4th quarter worth approximately $26,000. GAMMA Investing LLC acquired a new stake in Energy Transfer in the 4th quarter valued at approximately $29,000. Fourth Dimension Wealth LLC bought a new stake in Energy Transfer during the 4th quarter valued at $29,000. Finally, United Community Bank bought a new stake in Energy Transfer during the 4th quarter valued at $35,000. Institutional investors and hedge funds 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.