Energy Transfer (NYSE:ET) Trading Down 0.9% - Here's What Happened

Energy Transfer LP (NYSE:ET - Get Free Report) shares fell 0.9% during mid-day trading on Friday . The company traded as low as $17.31 and last traded at $17.43. 2,921,934 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 15,186,592 shares. The stock had previously closed at $17.59.

Analyst Upgrades and Downgrades

A number of analysts have commented on ET shares. UBS Group reiterated a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Barclays boosted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday, January 13th. Citigroup reiterated a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. Stifel Nicolaus increased their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Finally, Morgan Stanley upped 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 equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $22.09.

Energy Transfer Price Performance

The stock has a market capitalization of $59.72 billion, a price-to-earnings ratio of 13.60, a P/E/G 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 business has a 50-day simple moving average of $18.01 and a two-hundred day simple moving average of $18.46.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings data 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 net margin of 5.74% and a return on equity of 11.56%. As a group, research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th will be given a $0.3275 dividend. The ex-dividend date is Friday, May 9th. This represents a $1.31 dividend on an annualized basis and a dividend yield of 7.53%. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is currently 101.56%.

Institutional Investors Weigh In On Energy Transfer

A number of large investors have recently added to or reduced their stakes in the stock. Wealthstar Advisors LLC grew its position in shares of Energy Transfer by 25.2% in the first quarter. Wealthstar Advisors LLC now owns 44,230 shares of the pipeline company's stock valued at $822,000 after purchasing an additional 8,913 shares during the last quarter. Citizens National Bank Trust Department raised its position in shares of Energy Transfer by 100.0% during the first quarter. Citizens National Bank Trust Department now owns 4,000 shares of the pipeline company's stock valued at $74,000 after buying an additional 2,000 shares during the last quarter. Avidian Wealth Enterprises LLC grew its position in Energy Transfer by 4.8% during the first quarter. Avidian Wealth Enterprises LLC now owns 107,728 shares of the pipeline company's stock worth $2,003,000 after buying an additional 4,962 shares in the last quarter. Naviter Wealth LLC acquired a new stake in shares of Energy Transfer during the 1st quarter worth approximately $294,000. Finally, Northcape Wealth Management LLC acquired a new position in shares of Energy Transfer in the 1st quarter valued at $214,000. 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.

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