Energy Transfer (NYSE:ET) Trading Down 3.1% - Here's What Happened

Energy Transfer LP (NYSE:ET - Get Free Report) shares dropped 3.1% during trading on Monday . The stock traded as low as $14.60 and last traded at $15.66. Approximately 23,102,339 shares traded hands during trading, an increase of 55% from the average daily volume of 14,880,166 shares. The stock had previously closed at $16.16.

Analyst Ratings Changes

ET has been the subject of a number of research reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $23.00 price objective on shares of Energy Transfer in a research report on Tuesday, March 25th. The Goldman Sachs Group lifted their price target 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. Citigroup restated a "buy" rating on shares of Energy Transfer in a report on Monday, March 24th. Wells Fargo & Company lifted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. Finally, UBS Group reissued a "buy" rating on shares of Energy Transfer in a research note on Tuesday, March 4th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $22.09.

Energy Transfer Trading Up 1.4 %

The stock has a market capitalization of $55.33 billion, a P/E ratio of 12.60, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The company has a fifty day simple moving average of $18.55 and a two-hundred day simple moving average of $18.44.

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

Energy Transfer Increases Dividend

The business 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. This is a boost from Energy Transfer's previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a yield of 8.06%. The ex-dividend date was Friday, February 7th. Energy Transfer's payout ratio is currently 101.56%.

Hedge Funds Weigh In On Energy Transfer

A number of large investors have recently added to or reduced their stakes in ET. Mountain Hill Investment Partners Corp. acquired a new position in shares of Energy Transfer during the fourth quarter worth about $25,000. Capital A Wealth Management LLC bought a new stake in Energy Transfer in the 4th quarter valued at approximately $26,000. GAMMA Investing LLC acquired a new position in Energy Transfer during the 4th quarter worth approximately $29,000. Fourth Dimension Wealth LLC bought a new position in shares of Energy Transfer during the 4th quarter worth approximately $29,000. Finally, United Community Bank acquired a new stake in shares of Energy Transfer in the fourth quarter valued at approximately $35,000. 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.