Energy Transfer (NYSE:ET) Trading Down 0.4% on Disappointing Earnings

Energy Transfer LP (NYSE:ET) shares dropped 0.4% on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $19.26 and last traded at $19.73. Approximately 6,350,670 shares changed hands during trading, a decline of 63% from the average daily volume of 17,122,715 shares. The stock had previously closed at $19.81.

The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be issued a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 6.60%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, February 7th. Energy Transfer’s payout ratio is currently 94.85%.

Analyst Ratings Changes

Several equities analysts recently weighed in on ET shares. Wells Fargo & Company raised their price objective on shares of 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 price target on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays lifted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Bank of America started coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. Finally, Royal Bank of Canada boosted their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.18.

Hedge Funds Weigh In On Energy Transfer

Several large investors have recently made changes to their positions in ET. Empowered Funds LLC raised its stake in Energy Transfer by 15.0% during the 3rd quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock valued at $5,567,000 after purchasing an additional 45,172 shares during the last quarter. Watts Gwilliam & Co. LLC bought a new position in shares of Energy Transfer during the 4th quarter worth about $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in shares of Energy Transfer by 4.0% during the 4th 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 purchasing an additional 293,088 shares during the period. Kingsview Wealth Management LLC raised 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 valued at $3,885,000 after buying an additional 57,184 shares during the last quarter. Finally, Paragon Capital Management Ltd lifted its stake 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 buying an additional 55,890 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Trading Down 0.6 %

The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $67.45 billion, a price-to-earnings ratio of 14.49, a P/E/G ratio of 0.52 and a beta of 1.69. The business has a 50-day moving average of $19.73 and a two-hundred day moving average of $17.71.

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.