Energy Transfer (NYSE:ET) Trading Down 0.5% – What’s Next?

Energy Transfer LP (NYSE:ET) shares traded down 0.5% on Tuesday . The stock traded as low as $19.80 and last traded at $19.99. 3,612,641 shares changed hands during trading, a decline of 79% from the average session volume of 17,078,346 shares. The stock had previously closed at $20.09.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ET shares. Royal Bank of Canada raised their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. 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. Bank of America assumed coverage on Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. Barclays raised their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Wells Fargo & Company lifted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $20.82.

Energy Transfer Trading Down 1.0 %

The company has a 50-day moving average price of $19.72 and a 200-day moving average price of $17.68. The company has a market capitalization of $68.08 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 0.52 and a beta of 1.69. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.

Energy Transfer Increases Dividend

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

Institutional Trading of Energy Transfer

Large investors have recently bought and sold shares of the stock. Empowered Funds LLC grew its holdings in shares of Energy Transfer by 15.0% during the third quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock worth $5,567,000 after purchasing an additional 45,172 shares during the last quarter. Watts Gwilliam & Co. LLC acquired a new stake in Energy Transfer in the 4th quarter valued at about $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in shares of Energy Transfer by 4.0% in the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock worth $148,621,000 after acquiring an additional 293,088 shares during the last quarter. Kingsview Wealth Management LLC lifted its position in shares of Energy Transfer by 30.9% during the third quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock worth $3,885,000 after purchasing an additional 57,184 shares in the last quarter. Finally, Paragon Capital Management Ltd increased its holdings in shares of Energy Transfer by 435.5% in the fourth quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock valued at $1,346,000 after purchasing an additional 55,890 shares in the last quarter. 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.