Energy Transfer (NYSE:ET) Shares Down 0.8% - Here's Why

Energy Transfer LP (NYSE:ET - Get Free Report) shares traded down 0.8% during mid-day trading on Monday . The stock traded as low as $17.32 and last traded at $17.31. 2,772,813 shares were traded during trading, a decline of 82% from the average session volume of 15,231,998 shares. The stock had previously closed at $17.45.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ET shares. Barclays boosted their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. Morgan Stanley lifted their price target on Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. Citigroup reaffirmed a "buy" rating on shares of Energy Transfer in a research note on Monday, March 24th. Royal Bank of Canada reissued an "outperform" rating and issued a $23.00 target price on shares of Energy Transfer in a research report on Tuesday, March 25th. Finally, UBS Group reiterated a "buy" rating on shares of Energy Transfer in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Energy Transfer presently has an average rating of "Moderate Buy" and a consensus target price of $22.09.

Energy Transfer Trading Down 1.1 %

The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The stock has a market capitalization of $59.24 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 0.64 and a beta of 1.32. The business's 50-day simple moving average is $17.96 and its two-hundred day simple moving average is $18.50.

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

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th will be given a $0.3275 dividend. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.31 dividend on an annualized basis and a dividend yield of 7.59%. The ex-dividend date is Friday, May 9th. Energy Transfer's dividend payout ratio (DPR) is presently 102.34%.

Hedge Funds Weigh In On Energy Transfer

Hedge funds and other institutional investors have recently bought and sold shares of the stock. DAVENPORT & Co LLC boosted its position in Energy Transfer by 1.0% during the 1st quarter. DAVENPORT & Co LLC now owns 109,151 shares of the pipeline company's stock valued at $2,029,000 after purchasing an additional 1,116 shares during the period. Summit Trail Advisors LLC grew its position in shares of Energy Transfer by 1.1% during the first quarter. Summit Trail Advisors LLC now owns 58,181 shares of the pipeline company's stock worth $1,082,000 after acquiring an additional 649 shares during the last quarter. BLB&B Advisors LLC increased its holdings in shares of Energy Transfer by 2.0% in the 1st quarter. BLB&B Advisors LLC now owns 50,051 shares of the pipeline company's stock worth $930,000 after acquiring an additional 1,000 shares during the period. Koshinski Asset Management Inc. boosted its stake in Energy Transfer by 6.3% during the 1st quarter. Koshinski Asset Management Inc. now owns 15,523 shares of the pipeline company's stock valued at $289,000 after purchasing an additional 920 shares during the period. Finally, Nicholson Meyer Capital Management Inc. bought a new position in Energy Transfer in the 1st quarter worth about $1,049,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

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.

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