Energy Transfer (NYSE:ET) Shares Down 0.1%

Energy Transfer LP (NYSE:ET) shares dropped 0.1% on Wednesday . The company traded as low as $15.79 and last traded at $15.89. Approximately 1,584,771 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 12,331,743 shares. The stock had previously closed at $15.90.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Mizuho reaffirmed a “buy” rating and set a $19.00 price target (up previously from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. Citigroup raised their target price on shares of Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Finally, UBS Group dropped their price target on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Energy Transfer Stock Performance

The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 1.37. The stock has a 50 day moving average price of $15.27 and a two-hundred day moving average price of $14.29. The company has a market cap of $53.47 billion, a P/E ratio of 14.58 and a beta of 1.64.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The firm had revenue of $20.53 billion for the quarter, compared to analyst estimates of $21.46 billion. During the same quarter in the prior year, the business posted $0.34 EPS. The business’s revenue was up .2% compared to the same quarter last year. On average, research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Wednesday, February 7th were issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 7.94%. The ex-dividend date was Tuesday, February 6th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.31. Energy Transfer’s dividend payout ratio is 115.60%.

Institutional Investors Weigh In On Energy Transfer

Hedge funds have recently modified their holdings of the company. Simplicity Wealth LLC acquired a new position in Energy Transfer during the 1st quarter worth about $322,000. Spire Wealth Management boosted its holdings in Energy Transfer by 1.7% in the first quarter. Spire Wealth Management now owns 110,658 shares of the pipeline company’s stock valued at $1,741,000 after acquiring an additional 1,810 shares during the last quarter. Essex Financial Services Inc. increased its position in Energy Transfer by 2.2% during the 1st quarter. Essex Financial Services Inc. now owns 33,569 shares of the pipeline company’s stock valued at $528,000 after purchasing an additional 708 shares during the period. Covenant Asset Management LLC raised its holdings in Energy Transfer by 3.4% during the 1st quarter. Covenant Asset Management LLC now owns 59,626 shares of the pipeline company’s stock worth $938,000 after purchasing an additional 1,948 shares during the last quarter. Finally, Sweet Financial Partners LLC lifted its position in shares of Energy Transfer by 12.1% in the 1st quarter. Sweet Financial Partners LLC now owns 67,877 shares of the pipeline company’s stock worth $1,068,000 after purchasing an additional 7,316 shares during the period. Institutional investors and hedge funds 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.