Energy Transfer (NYSE:ET) Stock Price Down 0.4% Following Weak Earnings

Energy Transfer LP (NYSE:ET) dropped 0.4% on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $19.26 and last traded at $19.73. Approximately 6,350,670 shares changed hands during trading, a decline of 63% from the average daily volume of 17,122,715 shares. The stock had previously closed at $19.81.

The pipeline company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be issued a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 6.54%. The ex-dividend date is Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ET shares. Barclays increased their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. The Goldman Sachs Group increased their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Bank of America started coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. Wells Fargo & Company increased their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada raised their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.18.

Institutional Trading of Energy Transfer

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Brown Brothers Harriman & Co. increased its position in Energy Transfer by 22.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 82,383 shares of the pipeline company’s stock worth $1,614,000 after purchasing an additional 14,982 shares in the last quarter. Level Four Advisory Services LLC increased its position in Energy Transfer by 248.9% in the 4th quarter. Level Four Advisory Services LLC now owns 129,294 shares of the pipeline company’s stock valued at $2,533,000 after acquiring an additional 92,232 shares during the period. Tepp RIA LLC acquired a new position in Energy Transfer in the 4th quarter valued at approximately $206,000. Duff & Phelps Investment Management Co. boosted its stake in Energy Transfer by 0.9% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 4,994,274 shares of the pipeline company’s stock worth $97,838,000 after acquiring an additional 45,862 shares in the last quarter. Finally, Blair William & Co. IL boosted its stake in Energy Transfer by 8.4% during the fourth quarter. Blair William & Co. IL now owns 515,292 shares of the pipeline company’s stock worth $10,095,000 after acquiring an additional 39,816 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

The stock has a market capitalization of $68.02 billion, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 0.52 and a beta of 1.69. The business’s 50 day simple moving average is $19.73 and its two-hundred day simple moving average is $17.71. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.

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.