Energy Transfer (NYSE:ET) Shares Down 0.8% – Here’s What Happened

Energy Transfer LP (NYSE:ET)’s share price was down 0.8% during mid-day trading on Friday . The company traded as low as $20.70 and last traded at $20.90. Approximately 3,391,917 shares were traded during trading, a decline of 80% from the average daily volume of 17,367,453 shares. The stock had previously closed at $21.08.

Wall Street Analyst Weigh In

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

Energy Transfer Price Performance

The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $70.08 billion, a P/E ratio of 15.05, a PEG ratio of 0.54 and a beta of 1.70. The company has a fifty day simple moving average of $19.59 and a two-hundred day simple moving average of $17.49.

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, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same period in the prior year, the business posted $0.31 earnings per share. Energy Transfer’s revenue was up .2% compared to the same quarter last year. Sell-side analysts expect that Energy Transfer LP will post 1.36 EPS for the current fiscal 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 dividend of $0.325 per share. The ex-dividend date is Friday, February 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.35%. Energy Transfer’s payout ratio is 94.85%.

Hedge Funds Weigh In On Energy Transfer

Several hedge funds have recently added to or reduced their stakes in the stock. Princeton Global Asset Management LLC increased its stake in shares of Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 650 shares during the last quarter. Assetmark Inc. increased its stake in Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Energy Transfer during the fourth quarter worth $29,000. Financial Life Planners acquired a new position in shares of Energy Transfer in the 4th quarter valued at $37,000. Finally, Sugarloaf Wealth Management LLC increased its position in shares of Energy Transfer by 43.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after buying an additional 750 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

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.