Energy Transfer (NYSE:ET) Stock Price Down 0.2%

Energy Transfer LP (NYSE:ET) traded down 0.2% on Friday . The stock traded as low as $16.25 and last traded at $16.27. 1,675,923 shares were traded during trading, a decline of 86% from the average session volume of 11,740,196 shares. The stock had previously closed at $16.31.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. UBS Group increased their target price on Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Mizuho upped their price target on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Morgan Stanley upped their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. JPMorgan Chase & Co. upped their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Finally, Stifel Nicolaus upped their price target on Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.29.

Energy Transfer Trading Down 0.2 %

The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37. The firm has a market cap of $54.83 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 0.44 and a beta of 1.66. The business has a 50 day moving average price of $15.81 and a 200-day moving average price of $15.16.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The business had revenue of $21.63 billion during the quarter, compared to analysts’ expectations of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 EPS. As a group, research analysts expect that Energy Transfer LP will post 1.45 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were issued a dividend of $0.317 per share. This represents a $1.27 dividend on an annualized basis and a yield of 7.79%. The ex-dividend date was Friday, May 10th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is currently 116.51%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ET. First Reserve GP XIII Ltd bought a new stake in shares of Energy Transfer in the 4th quarter worth approximately $322,097,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Energy Transfer by 38.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock worth $353,576,000 after purchasing an additional 7,097,074 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Energy Transfer by 18.5% in the 4th quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock worth $350,845,000 after purchasing an additional 3,976,676 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Energy Transfer by 1,447.6% in the 4th quarter. International Assets Investment Management LLC now owns 3,756,955 shares of the pipeline company’s stock worth $518,460,000 after purchasing an additional 3,514,195 shares during the last quarter. Finally, UBS Group AG lifted its holdings in shares of Energy Transfer by 13.3% in the 4th quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company’s stock worth $395,270,000 after purchasing an additional 3,368,427 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.