Energy Transfer (NYSE:ET) Stock Price Down 4.1% – Here’s What Happened

Shares of Energy Transfer LP (NYSE:ET) were down 4.1% on Wednesday . The stock traded as low as $14.90 and last traded at $15.01. Approximately 10,280,289 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 15,033,509 shares. The stock had previously closed at $15.65.

Analysts Set New Price Targets

ET has been the topic of a number of recent research reports. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Stifel Nicolaus increased their target price 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Energy Transfer in a research note on Tuesday, March 25th. Citigroup restated a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. Finally, Morgan Stanley boosted their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus price target of $22.09.

Energy Transfer Price Performance

The company’s fifty day moving average is $18.90 and its two-hundred day moving average is $18.43. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The firm has a market cap of $51.67 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32.

Energy Transfer (NYSE:ET) last issued its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. Equities research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current 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 paid a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 8.63%. The ex-dividend date was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is 101.56%.

Institutional Investors Weigh In On Energy Transfer

Several institutional investors and hedge funds have recently made changes to their positions in the company. EP Wealth Advisors LLC grew its position in shares of Energy Transfer by 50.7% during the third quarter. EP Wealth Advisors LLC now owns 61,493 shares of the pipeline company’s stock worth $987,000 after acquiring an additional 20,699 shares during the last quarter. National Bank of Canada FI increased its position in shares of Energy Transfer by 56.8% during the 3rd quarter. National Bank of Canada FI now owns 45,381 shares of the pipeline company’s stock valued at $728,000 after purchasing an additional 16,439 shares during the period. Zacks Investment Management bought a new stake in shares of Energy Transfer in the 3rd quarter worth $181,000. MML Investors Services LLC boosted its stake in Energy Transfer by 2.4% during the third quarter. MML Investors Services LLC now owns 109,984 shares of the pipeline company’s stock valued at $1,765,000 after buying an additional 2,620 shares in the last quarter. Finally, Continuum Advisory LLC grew its holdings in Energy Transfer by 44.8% during the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 729 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

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.