Energy Transfer (NYSE:ET) Stock Price Down 1.1% - What's Next?

Shares of Energy Transfer LP (NYSE:ET - Get Free Report) fell 1.1% on Friday . The company traded as low as $19.51 and last traded at $19.52. 3,667,272 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 12,185,768 shares. The stock had previously closed at $19.73.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ET shares. Barclays increased their price objective on shares of Energy Transfer from $18.00 to $22.00 and gave the company an "overweight" rating in a research note on Friday, December 20th. Wells Fargo & Company upped their target price on Energy Transfer from $20.00 to $21.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. The Goldman Sachs Group lifted their price target on Energy Transfer from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Thursday, December 19th. Bank of America began coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a "buy" rating and a $20.00 price objective for the company. Finally, Royal Bank of Canada lifted their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an "outperform" rating in a research report on Monday, December 9th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $20.55.

Energy Transfer Stock Performance

The company has a market capitalization of $66.56 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 0.62 and a beta of 1.70. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The company's 50-day moving average price is $18.67 and its two-hundred day moving average price is $17.03.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The firm had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business's quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the company posted $0.31 EPS. On average, equities research analysts anticipate that Energy Transfer LP will post 1.32 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were issued a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.64%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer's payout ratio is 94.85%.

Hedge Funds Weigh In On Energy Transfer

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