Energy Transfer (NYSE:ET) Stock Price Down 0.3% – Here’s What Happened

Energy Transfer LP (NYSE:ET) traded down 0.3% during mid-day trading on Monday . The stock traded as low as $19.16 and last traded at $19.21. 3,830,015 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 13,667,983 shares. The stock had previously closed at $19.26.

Wall Street Analysts Forecast Growth

ET has been the topic of a number of analyst reports. Royal Bank of Canada boosted their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday. Bank of America initiated coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. Finally, UBS Group raised their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Energy Transfer has a consensus rating of “Buy” and a consensus target price of $20.38.

Energy Transfer Price Performance

The firm’s 50-day moving average is $17.29 and its 200-day moving average is $16.42. 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 company has a market capitalization of $64.85 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company earned $0.31 EPS. Equities analysts predict that Energy Transfer LP will post 1.32 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were issued a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.81%. Energy Transfer’s payout ratio is 94.85%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ET. CWM LLC lifted its position in Energy Transfer by 27.6% in the second quarter. CWM LLC now owns 61,300 shares of the pipeline company’s stock valued at $994,000 after purchasing an additional 13,248 shares during the last quarter. Dynamic Advisor Solutions LLC raised its holdings in Energy Transfer by 14.5% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 130,316 shares of the pipeline company’s stock valued at $2,114,000 after buying an additional 16,492 shares during the last quarter. Alpha Cubed Investments LLC boosted its position in Energy Transfer by 3.0% during the 2nd quarter. Alpha Cubed Investments LLC now owns 48,562 shares of the pipeline company’s stock valued at $788,000 after buying an additional 1,434 shares during the period. Wedmont Private Capital grew its holdings in Energy Transfer by 24.9% in the 2nd quarter. Wedmont Private Capital now owns 30,069 shares of the pipeline company’s stock worth $489,000 after acquiring an additional 6,001 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Energy Transfer by 26.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 696,770 shares of the pipeline company’s stock worth $11,302,000 after purchasing an additional 146,799 shares during the last quarter. 38.22% of the stock is owned by 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.