Energy Transfer (NYSE:ET) Shares Down 0.9% - What's Next?

Energy Transfer LP (NYSE:ET - Get Free Report) was down 0.9% on Friday . The stock traded as low as $18.58 and last traded at $18.71. Approximately 2,317,039 shares changed hands during trading, a decline of 84% from the average daily volume of 14,456,998 shares. The stock had previously closed at $18.88.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ET shares. Wells Fargo & Company upped their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. Stifel Nicolaus increased their target price on Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Royal Bank of Canada restated an "outperform" rating and set a $23.00 price target on shares of Energy Transfer in a research note on Tuesday, March 25th. Morgan Stanley raised their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Finally, UBS Group reissued a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $22.09.

Energy Transfer Price Performance

The stock has a market cap of $64.59 billion, a PE ratio of 14.70, a P/E/G ratio of 0.64 and a beta of 1.72. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The business has a 50 day moving average price of $19.38 and a two-hundred day moving average price of $18.43.

Remove Ads

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 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%. Research analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a $0.325 dividend. This is an increase from Energy Transfer's previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a yield of 6.91%. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer's dividend payout ratio (DPR) is currently 101.56%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ET. Mountain Hill Investment Partners Corp. bought a new stake in shares of Energy Transfer during the 4th quarter valued at $25,000. Capital A Wealth Management LLC bought a new stake in Energy Transfer during the fourth quarter valued at $26,000. GAMMA Investing LLC purchased a new position in Energy Transfer during the fourth quarter worth about $29,000. Fourth Dimension Wealth LLC bought a new position in Energy Transfer in the 4th quarter worth about $29,000. Finally, United Community Bank purchased a new stake in shares of Energy Transfer in the 4th quarter valued at about $35,000. Hedge funds and other institutional investors 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.