Energy Transfer (NYSE:ET) Shares Down 0.5% – Here’s Why

Energy Transfer LP (NYSE:ET)’s share price fell 0.5% on Friday . The stock traded as low as $19.79 and last traded at $19.95. 4,501,279 shares were traded during trading, a decline of 74% from the average session volume of 17,048,416 shares. The stock had previously closed at $20.05.

Analyst Ratings Changes

Several analysts have issued reports on ET shares. Royal Bank of Canada upped their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Barclays lifted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Wells Fargo & Company raised their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group boosted their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Finally, Bank of America assumed coverage on Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $20.82.

Energy Transfer Trading Down 0.7 %

The firm’s 50-day simple moving average is $19.71 and its 200 day simple moving average is $17.61. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The firm has a market capitalization of $68.19 billion, a price-to-earnings ratio of 14.64, a P/E/G ratio of 0.54 and a beta of 1.69.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. Energy Transfer’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the company earned $0.31 EPS. Equities analysts expect that Energy Transfer LP will post 1.36 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be paid a $0.325 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 6.53%. Energy Transfer’s dividend payout ratio is presently 94.85%.

Institutional Trading of Energy Transfer

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dynamic Advisor Solutions LLC increased its stake in shares of Energy Transfer by 5.6% in the third quarter. Dynamic Advisor Solutions LLC now owns 137,660 shares of the pipeline company’s stock valued at $2,209,000 after buying an additional 7,344 shares during the period. Atomi Financial Group Inc. lifted its position in shares of Energy Transfer by 11.8% in the 3rd quarter. Atomi Financial Group Inc. now owns 32,840 shares of the pipeline company’s stock worth $527,000 after purchasing an additional 3,472 shares during the period. Brookstone Capital Management boosted its stake in shares of Energy Transfer by 5.2% in the 3rd quarter. Brookstone Capital Management now owns 216,358 shares of the pipeline company’s stock valued at $3,473,000 after purchasing an additional 10,738 shares during the last quarter. Daymark Wealth Partners LLC increased its position in shares of Energy Transfer by 7.2% during the third quarter. Daymark Wealth Partners LLC now owns 160,131 shares of the pipeline company’s stock worth $2,570,000 after buying an additional 10,705 shares during the period. Finally, CWM LLC raised its stake in Energy Transfer by 60.6% during the third quarter. CWM LLC now owns 98,436 shares of the pipeline company’s stock worth $1,580,000 after buying an additional 37,136 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

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.