Energy Transfer (NYSE:ET) Trading Down 3.9% - Here's What Happened

Energy Transfer LP (NYSE:ET - Get Free Report)'s stock price dropped 3.9% during mid-day trading on Tuesday . The company traded as low as $18.10 and last traded at $18.29. Approximately 10,113,682 shares were traded during trading, a decline of 39% from the average daily volume of 16,692,336 shares. The stock had previously closed at $19.03.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ET shares. Stifel Nicolaus lifted 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. Wells Fargo & Company boosted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an "overweight" rating in a report on Wednesday, December 18th. The Goldman Sachs Group lifted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a "neutral" rating in a research report on Thursday, December 19th. Barclays increased their price target on Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Finally, Citigroup lifted 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. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $21.55.

Energy Transfer Trading Down 2.7 %

The company has a market capitalization of $60.79 billion, a PE ratio of 13.84, 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. The stock has a fifty day moving average of $19.87 and a 200 day moving average of $18.08.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings data 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%. As a group, sell-side analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a dividend of $0.325 per share. This is an increase from Energy Transfer's previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.34%. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer's dividend payout ratio is currently 101.56%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Empowered Funds LLC grew its stake in Energy Transfer by 15.0% in the 3rd quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company's stock worth $5,567,000 after acquiring an additional 45,172 shares in the last quarter. Watts Gwilliam & Co. LLC purchased a new position in Energy Transfer during the 4th quarter worth $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in Energy Transfer by 4.0% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company's stock valued at $148,621,000 after purchasing an additional 293,088 shares in the last quarter. Forvis Mazars Wealth Advisors LLC lifted its holdings in shares of Energy Transfer by 164.1% in the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company's stock worth $1,186,000 after buying an additional 37,633 shares during the period. Finally, Kingsview Wealth Management LLC raised its holdings in shares of Energy Transfer by 30.9% in the third quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company's stock valued at $3,885,000 after acquiring an additional 57,184 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

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.