Energy Transfer (NYSE:ET) Trading Down 1%

Energy Transfer LP (NYSE:ET)’s share price fell 1% during trading on Monday . The stock traded as low as $16.23 and last traded at $16.27. 4,301,994 shares were traded during trading, a decline of 64% from the average session volume of 12,064,271 shares. The stock had previously closed at $16.44.

Analyst Upgrades and Downgrades

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

Energy Transfer Trading Down 0.4 %

The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00. The stock has a market capitalization of $55.20 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 0.45 and a beta of 1.66. The business has a 50 day simple moving average of $15.84 and a 200-day simple moving average of $15.28.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The business had revenue of $21.63 billion during the quarter, compared to analyst estimates of $20.91 billion. During the same period in the previous year, the firm posted $0.32 earnings per share. The firm’s revenue was up 13.9% on a year-over-year basis. As a group, equities analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were given a dividend of $0.317 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a dividend yield of 7.74%. The ex-dividend date was Friday, May 10th. Energy Transfer’s dividend payout ratio is currently 116.51%.

Institutional Trading of Energy Transfer

Several institutional investors and hedge funds have recently bought and sold shares of ET. Rehmann Capital Advisory Group raised its stake in Energy Transfer by 2.0% in the first quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock valued at $505,000 after buying an additional 633 shares during the period. Sfmg LLC raised its stake in Energy Transfer by 2.2% in the first quarter. Sfmg LLC now owns 31,406 shares of the pipeline company’s stock valued at $494,000 after buying an additional 674 shares during the period. Morton Capital Management LLC CA raised its stake in Energy Transfer by 1.6% in the second quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock valued at $720,000 after buying an additional 699 shares during the period. FinTrust Capital Advisors LLC increased its stake in shares of Energy Transfer by 3.6% during the first quarter. FinTrust Capital Advisors LLC now owns 20,201 shares of the pipeline company’s stock worth $318,000 after purchasing an additional 700 shares during the period. Finally, Essex Financial Services Inc. increased its stake in shares of Energy Transfer by 2.2% during the first quarter. Essex Financial Services Inc. now owns 33,569 shares of the pipeline company’s stock worth $528,000 after purchasing an additional 708 shares during the period. 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.