Energy Transfer (NYSE:ET) Trading Down 0.1%

Energy Transfer LP (NYSE:ET)’s stock price was down 0.1% during trading on Thursday . The stock traded as low as $16.15 and last traded at $16.17. Approximately 3,176,434 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 12,409,997 shares. The stock had previously closed at $16.18.

Analyst Upgrades and Downgrades

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

Energy Transfer Price Performance

The stock has a 50 day simple moving average of $15.87 and a two-hundred day simple moving average of $15.32. The firm has a market cap of $54.93 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 0.45 and a beta of 1.66. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18.

Energy Transfer (NYSE:ET) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $20.91 billion. During the same quarter in the previous year, the business posted $0.32 EPS. The business’s quarterly revenue was up 13.9% on a year-over-year basis. Sell-side analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Hedge Funds Weigh In On Energy Transfer

Institutional investors and hedge funds have recently modified their holdings of the business. NBC Securities Inc. increased its stake in shares of Energy Transfer by 4.3% in the 1st quarter. NBC Securities Inc. now owns 56,366 shares of the pipeline company’s stock valued at $886,000 after purchasing an additional 2,326 shares in the last quarter. US Bancorp DE boosted its holdings in Energy Transfer by 95.8% in the 4th quarter. US Bancorp DE now owns 145,894 shares of the pipeline company’s stock worth $2,013,000 after buying an additional 71,386 shares during the last quarter. Savant Capital LLC boosted its holdings in Energy Transfer by 19.7% in the 4th quarter. Savant Capital LLC now owns 26,335 shares of the pipeline company’s stock worth $363,000 after buying an additional 4,340 shares during the last quarter. Arkadios Wealth Advisors boosted its holdings in Energy Transfer by 3.3% in the 4th quarter. Arkadios Wealth Advisors now owns 28,250 shares of the pipeline company’s stock worth $390,000 after buying an additional 903 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in Energy Transfer in the 4th quarter worth about $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.