Energy Transfer (NYSE:ET) Stock Price Down 1.9% - What's Next?

Energy Transfer LP (NYSE:ET - Get Free Report) shares fell 1.9% during trading on Wednesday . The stock traded as low as $18.16 and last traded at $18.13. 4,787,445 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 16,893,980 shares. The stock had previously closed at $18.47.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ET. Royal Bank of Canada boosted their target price on Energy Transfer from $20.00 to $23.00 and gave the stock an "outperform" rating in a report on Monday, December 9th. Citigroup upped their price objective on Energy Transfer from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Wells Fargo & Company upped their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. Barclays upped their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. Finally, Stifel Nicolaus upped their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $21.55.

Energy Transfer Stock Down 1.4 %

The firm's 50-day simple moving average is $19.87 and its 200 day simple moving average is $18.08. The company has a market cap of $62.47 billion, a P/E ratio of 14.22, a PEG ratio of 0.64 and a beta of 1.69. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12.

Energy Transfer (NYSE:ET - Get Free Report) last issued its 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 net margin of 5.74% and a return on equity of 11.56%. On average, research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a $0.325 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.14%. This is a boost 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

Large investors have recently added to or reduced their stakes in the company. Mountain Hill Investment Partners Corp. bought a new position in Energy Transfer during the 4th quarter worth about $25,000. Capital A Wealth Management LLC bought a new position in Energy Transfer during the 4th quarter worth about $26,000. GAMMA Investing LLC bought a new position in Energy Transfer during the 4th quarter worth about $29,000. Fourth Dimension Wealth LLC acquired a new position in shares of Energy Transfer during the 4th quarter worth about $29,000. Finally, Assetmark Inc. boosted its stake in shares of Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company's stock worth $28,000 after buying an additional 1,668 shares during the last quarter. 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.