Energy Transfer (NYSE:ET) Trading Down 0.7%

Shares of Energy Transfer LP (NYSE:ET) were down 0.7% during mid-day trading on Wednesday . The company traded as low as $15.87 and last traded at $15.88. Approximately 9,182,664 shares traded hands during mid-day trading, a decline of 23% from the average daily volume of 11,872,734 shares. The stock had previously closed at $16.00.

Analyst Ratings Changes

ET has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. Morgan Stanley upped their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Mizuho increased their target price on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Stifel Nicolaus boosted their price target on Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Finally, UBS Group increased their price objective on Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.29.

Energy Transfer Stock Performance

The stock has a 50-day moving average of $15.71 and a 200 day moving average of $14.97. The firm has a market capitalization of $54.02 billion, a P/E ratio of 14.71, a price-to-earnings-growth ratio of 0.44 and a beta of 1.63. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.04). Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The business had revenue of $21.63 billion for the quarter, compared to the consensus estimate of $20.91 billion. During the same quarter in the previous year, the company posted $0.32 EPS. Energy Transfer’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, research analysts anticipate that Energy Transfer LP will post 1.45 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were paid a $0.317 dividend. The ex-dividend date was Friday, May 10th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.91%. Energy Transfer’s payout ratio is currently 116.51%.

Institutional Trading of Energy Transfer

Several hedge funds have recently modified their holdings of the stock. Northwest Financial Advisors bought a new position in Energy Transfer in the 4th quarter valued at $25,000. Rise Advisors LLC boosted its holdings in Energy Transfer by 88.2% in the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 927 shares during the last quarter. LRI Investments LLC acquired a new stake in Energy Transfer in the first quarter worth about $29,000. Atlantic Edge Private Wealth Management LLC bought a new stake in Energy Transfer during the 4th quarter worth about $33,000. Finally, Harbor Investment Advisory LLC lifted its position in Energy Transfer by 42.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 750 shares during the period. 38.22% of the stock is owned by institutional investors.

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.