Energy Transfer (NYSE:ET) Shares Down 1%

Energy Transfer LP (NYSE:ET)’s stock price traded down 1% on Tuesday . The stock traded as low as $15.77 and last traded at $15.82. 4,503,458 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 12,133,672 shares. The stock had previously closed at $15.98.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. UBS Group dropped their price objective on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Citigroup lifted their price objective on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, Mizuho restated a “buy” rating and issued a $19.00 target price (up from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Energy Transfer has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Energy Transfer Trading Down 1.6 %

The business’s 50-day simple moving average is $15.42 and its two-hundred day simple moving average is $14.37. The firm has a market capitalization of $52.16 billion, a price-to-earnings ratio of 14.20 and a beta of 1.63. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 1.37.

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, beating analysts’ consensus estimates of $0.29 by $0.08. The company had revenue of $20.53 billion for the quarter, compared to analyst estimates of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 earnings per share. Equities analysts forecast that Energy Transfer LP will post 1.56 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be given a dividend of $0.317 per share. This represents a $1.27 annualized dividend and a dividend yield of 8.19%. The ex-dividend date of this dividend is Friday, May 10th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 115.60%.

Institutional Investors Weigh In On Energy Transfer

A number of institutional investors and hedge funds have recently made changes to their positions in ET. Mitchell Mcleod Pugh & Williams Inc. boosted its stake in shares of Energy Transfer by 45.3% during the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 58,309 shares of the pipeline company’s stock worth $917,000 after acquiring an additional 18,174 shares in the last quarter. StoneX Group Inc. grew its holdings in Energy Transfer by 46.3% in the first quarter. StoneX Group Inc. now owns 73,363 shares of the pipeline company’s stock valued at $1,154,000 after purchasing an additional 23,203 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Energy Transfer by 4.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 499,752 shares of the pipeline company’s stock worth $7,861,000 after buying an additional 20,786 shares during the period. Retirement Group LLC grew its position in Energy Transfer by 49.9% during the first quarter. Retirement Group LLC now owns 9,787 shares of the pipeline company’s stock valued at $154,000 after acquiring an additional 3,260 shares during the period. Finally, Mission Wealth Management LP increased its stake in Energy Transfer by 54.9% during the first quarter. Mission Wealth Management LP now owns 29,053 shares of the pipeline company’s stock worth $457,000 after acquiring an additional 10,294 shares during the last quarter. 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.