Energy Transfer (NYSE:ET) Trading Down 0.4% – What’s Next?

Energy Transfer LP (NYSE:ET) shares dropped 0.4% on Tuesday . The stock traded as low as $18.80 and last traded at $18.83. Approximately 1,878,258 shares traded hands during trading, a decline of 87% from the average daily volume of 14,486,133 shares. The stock had previously closed at $18.90.

Wall Street Analyst Weigh In

A number of brokerages have commented on ET. Barclays lifted their target price on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Wells Fargo & Company boosted their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Stifel Nicolaus increased their target price on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Royal Bank of Canada boosted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, The Goldman Sachs Group upped their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.55.

Energy Transfer Stock Down 1.1 %

The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The firm has a market capitalization of $64.15 billion, a P/E ratio of 14.61, a PEG ratio of 0.64 and a beta of 1.72. The firm’s fifty day moving average price is $19.64 and its 200-day moving average price is $18.21.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. As a group, equities research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a $0.325 dividend. The ex-dividend date of this dividend was Friday, February 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a yield of 6.95%. Energy Transfer’s payout ratio is 101.56%.

Hedge Funds Weigh In On Energy Transfer

Several large investors have recently made changes to their positions in ET. Mountain Hill Investment Partners Corp. acquired a new stake in Energy Transfer during the fourth quarter valued at approximately $25,000. Capital A Wealth Management LLC acquired a new stake in shares of Energy Transfer during the 4th quarter valued at $26,000. Assetmark Inc. boosted its stake in shares of Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 1,668 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Energy Transfer during the 4th quarter worth $29,000. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of Energy Transfer in the 4th quarter worth $29,000. Institutional investors 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.