Energy Transfer (NYSE:ET) Reaches New 1-Year Low – Here’s Why

Shares of Energy Transfer LP (NYSE:ET) hit a new 52-week low on Monday . The company traded as low as $14.60 and last traded at $14.93, with a volume of 10066265 shares traded. The stock had previously closed at $16.16.

Analyst Upgrades and Downgrades

Several research firms have commented on ET. Citigroup reiterated a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. The Goldman Sachs Group lifted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Royal Bank of Canada restated an “outperform” rating and issued a $23.00 price target on shares of Energy Transfer in a research report on Tuesday, March 25th. Morgan Stanley boosted their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Finally, Wells Fargo & Company increased their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.09.

Energy Transfer Stock Down 1.0 %

The stock has a market cap of $54.92 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 0.64 and a beta of 1.32. The stock has a 50 day simple moving average of $19.18 and a 200 day simple moving average of $18.46. 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 released its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) 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, analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were paid a $0.325 dividend. This is a positive change 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 8.12%. Energy Transfer’s dividend payout ratio is presently 101.56%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ET. FMR LLC boosted its stake in shares of Energy Transfer by 15.7% in the 4th quarter. FMR LLC now owns 38,634,018 shares of the pipeline company’s stock worth $756,840,000 after buying an additional 5,254,721 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its holdings in Energy Transfer by 7.7% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company’s stock worth $469,920,000 after acquiring an additional 1,723,683 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Energy Transfer by 5.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,776,221 shares of the pipeline company’s stock worth $387,416,000 after purchasing an additional 1,093,381 shares during the last quarter. Westwood Holdings Group Inc. grew its stake in Energy Transfer by 18.2% in the 4th quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company’s stock valued at $319,929,000 after purchasing an additional 2,512,060 shares during the period. Finally, Chickasaw Capital Management LLC increased its position in shares of Energy Transfer by 2.5% during the 4th quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock valued at $308,319,000 after purchasing an additional 388,073 shares during the last quarter. 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.