Energy Transfer (NYSE:ET) Stock Price Down 0.8%

Energy Transfer LP (NYSE:ET)’s stock price was down 0.8% during mid-day trading on Wednesday . The company traded as low as $16.21 and last traded at $16.27. Approximately 3,137,828 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 12,223,317 shares. The stock had previously closed at $16.40.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ET. UBS Group boosted their price target on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. JPMorgan Chase & Co. boosted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. Mizuho raised their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Stifel Nicolaus upped their price objective on shares of Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Finally, Morgan Stanley raised their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.29.

Energy Transfer Stock Performance

The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $54.53 billion, a P/E ratio of 14.93, a P/E/G ratio of 0.44 and a beta of 1.66. The company’s fifty day simple moving average is $15.86 and its 200 day simple moving average is $15.32.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The company had revenue of $21.63 billion during the quarter, compared to analysts’ expectations of $20.91 billion. During the same period in the prior year, the business earned $0.32 earnings per share. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Energy Transfer

A number of large investors have recently added to or reduced their stakes in ET. NBC Securities Inc. grew its holdings in Energy Transfer by 4.3% in the 1st quarter. NBC Securities Inc. now owns 56,366 shares of the pipeline company’s stock worth $886,000 after acquiring an additional 2,326 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Energy Transfer by 95.8% during the fourth quarter. US Bancorp DE now owns 145,894 shares of the pipeline company’s stock worth $2,013,000 after purchasing an additional 71,386 shares during the period. Savant Capital LLC increased its holdings in Energy Transfer by 19.7% during the 4th quarter. Savant Capital LLC now owns 26,335 shares of the pipeline company’s stock valued at $363,000 after purchasing an additional 4,340 shares during the period. Arkadios Wealth Advisors increased its holdings in Energy Transfer by 3.3% during the 4th quarter. Arkadios Wealth Advisors now owns 28,250 shares of the pipeline company’s stock valued at $390,000 after purchasing an additional 903 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new position in Energy Transfer during the 4th quarter valued at approximately $1,368,000. Hedge funds and other institutional investors 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.