Energy Transfer (NYSE:ET) Stock Price Down 0.9% - Here's Why

Energy Transfer LP (NYSE:ET - Get Free Report) shares traded down 0.9% on Tuesday . The company traded as low as $17.07 and last traded at $17.09. 3,351,421 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 13,256,433 shares. The stock had previously closed at $17.24.

Wall Street Analyst Weigh In

ET has been the subject of several analyst reports. Royal Bank of Canada lifted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. UBS Group raised their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, September 18th. Finally, Bank of America assumed coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a "buy" rating and a $20.00 price objective on the stock. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $20.00.

Energy Transfer Trading Down 1.2 %

The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38. The stock's fifty day moving average price is $16.33 and its 200 day moving average price is $16.06. The stock has a market cap of $58.28 billion, a PE ratio of 12.57, a PEG ratio of 0.53 and a beta of 1.66.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.32. Energy Transfer had a return on equity of 12.64% and a net margin of 5.90%. The business had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. During the same quarter in the previous year, the company posted $0.31 EPS. The company'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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be given a $0.3225 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 7.57%. Energy Transfer's dividend payout ratio is presently 94.85%.

Insider Buying and Selling

In related news, EVP Gregory G. Mcilwain acquired 20,000 shares of the business's stock in a transaction dated Friday, August 23rd. The shares were acquired at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the executive vice president now directly owns 591,211 shares in the company, valued at approximately $9,270,188.48. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On Energy Transfer

A number of institutional investors have recently modified their holdings of the stock. Fortis Capital Management LLC boosted its position in shares of Energy Transfer by 2.0% in the 3rd quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company's stock worth $513,000 after purchasing an additional 634 shares during the last quarter. Princeton Global Asset Management LLC increased its holdings in shares of Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company's stock worth $26,000 after buying an additional 650 shares in the last quarter. Veracity Capital LLC grew its holdings in Energy Transfer by 2.0% during the 2nd quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company's stock worth $545,000 after acquiring an additional 659 shares during the period. Haverford Trust Co increased its holdings in shares of Energy Transfer by 0.7% during the third quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company's stock valued at $1,640,000 after acquiring an additional 675 shares in the last quarter. Finally, Morton Capital Management LLC CA lifted its position in shares of Energy Transfer by 1.6% during the second quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company's stock valued at $720,000 after purchasing an additional 699 shares in the last quarter. Institutional investors and hedge funds 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.

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