Energy Transfer (NYSE:ET) Shares Down 3.9% – Here’s Why

Shares of Energy Transfer LP (NYSE:ET) dropped 3.9% on Tuesday . The company traded as low as $18.10 and last traded at $18.29. Approximately 10,113,682 shares were traded during trading, a decline of 39% from the average daily volume of 16,692,336 shares. The stock had previously closed at $19.03.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ET shares. Citigroup boosted their target price on shares of Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Stifel Nicolaus boosted their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research report on Tuesday. The Goldman Sachs Group boosted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Finally, Wells Fargo & Company boosted their target price 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. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.55.

Energy Transfer Stock Down 2.9 %

The firm’s 50-day moving average price is $19.92 and its 200 day moving average price is $18.07. The firm has a market cap of $63.43 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. As a group, research analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 7.03%. The ex-dividend date of this dividend was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 101.56%.

Hedge Funds Weigh In On Energy Transfer

A number of institutional investors and hedge funds have recently bought and sold shares of ET. US Bancorp DE grew its position in Energy Transfer by 3.4% in the 3rd quarter. US Bancorp DE now owns 143,800 shares of the pipeline company’s stock valued at $2,308,000 after buying an additional 4,723 shares in the last quarter. Creative Financial Designs Inc. ADV grew its position in Energy Transfer by 10.7% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 12,410 shares of the pipeline company’s stock valued at $199,000 after buying an additional 1,200 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Energy Transfer by 1,884.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 33,544 shares of the pipeline company’s stock valued at $538,000 after acquiring an additional 31,854 shares during the last quarter. Princeton Global Asset Management LLC lifted its holdings in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 650 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in Energy Transfer by 4.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 542,167 shares of the pipeline company’s stock valued at $8,702,000 after acquiring an additional 21,929 shares during the last quarter. Institutional investors 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.