Energy Transfer (NYSE:ET) Trading Down 0.4% – Here’s Why

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. The Goldman Sachs Group upped their target price on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Citigroup increased their price target on Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Barclays increased their price target on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Stifel Nicolaus increased their price target on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. 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 presently has an average rating of “Moderate Buy” and a consensus target price of $21.55.

Energy Transfer Price Performance

The stock has a market capitalization of $64.97 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 0.64 and a beta of 1.72. The stock has a 50-day moving average price of $19.61 and a 200 day moving average price of $18.23. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Tuesday, February 11th. 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 5.74% and a return on equity of 11.56%. As a group, equities research analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were paid a $0.325 dividend. The ex-dividend date was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a yield of 6.87%. Energy Transfer’s dividend payout ratio (DPR) is currently 101.56%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ET. Mountain Hill Investment Partners Corp. purchased a new position in Energy Transfer in the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC purchased a new position in Energy Transfer in the 4th quarter worth approximately $26,000. Assetmark Inc. lifted its stake in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares in the last quarter. GAMMA Investing LLC purchased a new position in Energy Transfer in the 4th quarter worth approximately $29,000. Finally, Fourth Dimension Wealth LLC purchased a new position in Energy Transfer in the 4th quarter worth approximately $29,000. 38.22% of the stock is owned by hedge funds and other 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.