Energy Transfer (NYSE:ET) Shares Down 0.2% - What's Next?

Energy Transfer LP (NYSE:ET - Get Free Report)'s share price traded down 0.2% during mid-day trading on Friday . The stock traded as low as $20.13 and last traded at $20.20. 2,922,559 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 13,965,292 shares. The stock had previously closed at $20.25.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ET shares. Bank of America assumed coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a "buy" rating and a $20.00 target price for the company. Royal Bank of Canada increased their price objective on Energy Transfer from $20.00 to $23.00 and gave the stock an "outperform" rating in a report on Monday, December 9th. Barclays upped their target price on Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Wells Fargo & Company raised their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. Finally, The Goldman Sachs Group boosted their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the company a "neutral" rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $20.82.

Energy Transfer Trading Up 0.2 %

The stock has a market cap of $69.45 billion, a PE ratio of 14.91, a PEG ratio of 0.57 and a beta of 1.70. 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 stock's fifty day moving average price is $19.02 and its 200 day moving average price is $17.19.

Energy Transfer (NYSE:ET - Get Free Report) last released 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. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company had revenue of $20.77 billion for the quarter, compared to analysts' expectations of $21.59 billion. During the same period last year, the firm posted $0.31 earnings per share. Energy Transfer's revenue was up .2% compared to the same quarter last year. On average, sell-side analysts forecast that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a $0.3225 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.36%. Energy Transfer's dividend payout ratio (DPR) is currently 94.85%.

Hedge Funds Weigh In On Energy Transfer

Institutional investors have recently made changes to their positions in the business. Princeton Global Asset Management LLC raised 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 worth $26,000 after purchasing an additional 650 shares during the period. Assetmark Inc. increased its position in Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company's stock worth $28,000 after buying an additional 1,668 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Energy Transfer in the fourth quarter worth about $29,000. HWG Holdings LP purchased a new position in shares of Energy Transfer during the 2nd quarter valued at about $33,000. Finally, Sugarloaf Wealth Management LLC grew its stake in shares of Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company's stock valued at $40,000 after acquiring an additional 750 shares during the period. Institutional investors own 38.22% of the company's stock.

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.