Energy Transfer (NYSE:ET) Trading Down 0.8%

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

Analysts Set New Price Targets

ET has been the subject of several analyst reports. UBS Group increased their price target on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Stifel Nicolaus increased their price target on shares of Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. raised their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Mizuho raised their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Finally, Morgan Stanley raised their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, 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 company’s 50 day moving average is $15.87 and its 200-day moving average is $15.33. The company has a market capitalization of $54.36 billion, a P/E ratio of 14.80, a price-to-earnings-growth ratio of 0.44 and a beta of 1.66.

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). The firm had revenue of $21.63 billion for the quarter, compared to the consensus estimate of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 earnings per share. Equities analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Institutional Trading of Energy Transfer

A number of large investors have recently made changes to their positions in ET. Northwest Financial Advisors bought a new stake in shares of Energy Transfer in the fourth quarter worth approximately $25,000. LRI Investments LLC purchased a new position in shares of Energy Transfer in the first quarter worth approximately $29,000. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Energy Transfer in the fourth quarter worth approximately $33,000. Harbor Investment Advisory LLC boosted its holdings in shares of Energy Transfer by 42.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock worth $34,000 after buying an additional 750 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in shares of Energy Transfer in the fourth quarter worth approximately $34,000. 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.