Energy Transfer LP (NYSE:ET - Get Free Report)'s share price was down 0.6% during trading on Monday . The company traded as low as $18.22 and last traded at $18.61. Approximately 4,306,615 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 14,551,229 shares. The stock had previously closed at $18.71.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the stock. Wells Fargo & Company increased their price objective 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. Stifel Nicolaus raised their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $23.00 price objective on shares of Energy Transfer in a report on Tuesday, March 25th. Citigroup reissued a "buy" rating on shares of Energy Transfer in a research note on Monday, March 24th. Finally, Morgan Stanley lifted their price target on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 25th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $22.09.
View Our Latest Analysis on ET
Energy Transfer Price Performance
The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The company's 50-day moving average price is $19.28 and its 200-day moving average price is $18.43. The company has a market cap of $55.30 billion, a P/E ratio of 12.59, a P/E/G ratio of 0.64 and a beta of 1.72.
Energy Transfer (NYSE:ET - Get Free Report) last released 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%. 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 8.07%. The ex-dividend date of this dividend was Friday, February 7th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. Energy Transfer's payout ratio is currently 101.56%.
Institutional Trading of Energy Transfer
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans boosted its holdings in shares of Energy Transfer by 57.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 21,671 shares of the pipeline company's stock valued at $348,000 after buying an additional 7,870 shares during the last quarter. Chevy Chase Trust Holdings LLC increased its stake in shares of Energy Transfer by 2.9% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 52,166 shares of the pipeline company's stock worth $837,000 after purchasing an additional 1,486 shares during the last quarter. Hilltop Holdings Inc. raised its holdings in shares of Energy Transfer by 340.4% in the 3rd quarter. Hilltop Holdings Inc. now owns 64,432 shares of the pipeline company's stock valued at $1,034,000 after purchasing an additional 49,802 shares during the period. Integrated Wealth Concepts LLC lifted its stake in Energy Transfer by 15.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 144,200 shares of the pipeline company's stock valued at $2,314,000 after purchasing an additional 19,669 shares during the last quarter. Finally, Recurrent Investment Advisors LLC grew its holdings in Energy Transfer by 8.0% during the third quarter. Recurrent Investment Advisors LLC now owns 4,581,247 shares of the pipeline company's stock worth $73,529,000 after purchasing an additional 339,609 shares during the period. Institutional investors and hedge funds own 38.22% of the company's stock.
Energy Transfer Company Profile
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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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