Energy Transfer (NYSE:ET) Shares Down 0.5% – What’s Next?

Energy Transfer LP (NYSE:ET) shares were down 0.5% during trading on Friday . The company traded as low as $19.57 and last traded at $19.62. Approximately 2,482,789 shares traded hands during trading, a decline of 79% from the average daily volume of 12,104,042 shares. The stock had previously closed at $19.71.

Analysts Set New Price Targets

ET has been the topic of several recent analyst reports. Barclays lifted their target price on Energy Transfer from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Bank of America started coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. Wells Fargo & Company boosted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. UBS Group increased their price objective 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. Finally, Royal Bank of Canada lifted their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $20.55.

Energy Transfer Stock Down 0.9 %

The firm has a market cap of $66.90 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 0.63 and a beta of 1.70. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The business’s 50-day moving average is $18.35 and its 200-day moving average is $16.89.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The company 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 business’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 earnings per share. On average, equities analysts predict that Energy Transfer LP will post 1.32 EPS for the current year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 6.60%. Energy Transfer’s payout ratio is presently 94.85%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Fortis Capital Management LLC raised its holdings in Energy Transfer by 2.0% in the third quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock worth $513,000 after purchasing an additional 634 shares during the period. Princeton Global Asset Management LLC raised its stake in Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares during the period. Haverford Trust Co lifted its holdings in Energy Transfer by 0.7% during the third quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company’s stock worth $1,640,000 after acquiring an additional 675 shares in the last quarter. Veracity Capital LLC lifted its holdings in Energy Transfer by 2.0% during the third quarter. Veracity Capital LLC now owns 34,255 shares of the pipeline company’s stock worth $550,000 after acquiring an additional 680 shares in the last quarter. Finally, Fidelis Capital Partners LLC grew its stake in Energy Transfer by 2.3% in the third quarter. Fidelis Capital Partners LLC now owns 31,858 shares of the pipeline company’s stock valued at $522,000 after acquiring an additional 709 shares during the period. 38.22% of the stock is currently 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.