Energy Transfer (NYSE:ET) Stock Price Down 1.4% – Here’s Why

Energy Transfer LP (NYSE:ET)’s stock price was down 1.4% on Monday . The stock traded as low as $16.95 and last traded at $17.22. Approximately 11,265,797 shares were traded during trading, a decline of 36% from the average daily volume of 17,601,816 shares. The stock had previously closed at $17.46.

Analysts Set New Price Targets

ET has been the subject of a number of research analyst reports. Wells Fargo & Company increased their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Citigroup increased their target price on shares of Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Stifel Nicolaus boosted their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. The Goldman Sachs Group increased their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Finally, Barclays lifted their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $21.55.

Energy Transfer Stock Up 3.3 %

The company has a market cap of $61.20 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 0.64 and a beta of 1.72. The business has a 50-day simple moving average of $19.72 and a two-hundred day simple moving average of $18.14. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42.

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

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were issued a dividend of $0.325 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a dividend yield of 7.29%. The ex-dividend date was Friday, February 7th. Energy Transfer’s dividend payout ratio is currently 101.56%.

Institutional Inflows and Outflows

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