Energy Transfer (NYSE:ET) Trading Down 1.5% - Here's Why

Shares of Energy Transfer LP (NYSE:ET - Get Free Report) dropped 1.5% on Friday . The company traded as low as $18.57 and last traded at $18.57. Approximately 1,642,821 shares traded hands during trading, a decline of 89% from the average daily volume of 14,448,048 shares. The stock had previously closed at $18.85.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Morgan Stanley increased their target price on shares of Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a research note on Tuesday. 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 research report on Wednesday, December 18th. UBS Group restated a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Citigroup reaffirmed a "buy" rating on shares of Energy Transfer in a research note on Monday. Finally, The Goldman Sachs Group raised their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a "neutral" rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Energy Transfer presently has a consensus rating of "Moderate Buy" and an average target price of $22.09.

Energy Transfer Price Performance

The firm has a fifty day moving average of $19.54 and a two-hundred day moving average of $18.33. The stock has a market capitalization of $64.75 billion, a P/E ratio of 14.74, 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 current ratio of 1.12 and a quick ratio of 0.88.

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

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a dividend of $0.325 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a yield of 6.89%. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. Energy Transfer's dividend payout ratio is currently 101.56%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Mountain Hill Investment Partners Corp. purchased a new position in Energy Transfer in the fourth quarter valued at about $25,000. Capital A Wealth Management LLC purchased a new position in shares of Energy Transfer in the 4th quarter worth approximately $26,000. GAMMA Investing LLC bought a new position in shares of Energy Transfer during the 4th quarter worth approximately $29,000. Fourth Dimension Wealth LLC purchased a new stake in Energy Transfer during the fourth quarter valued at approximately $29,000. Finally, United Community Bank acquired a new stake in Energy Transfer in the fourth quarter valued at approximately $35,000. 38.22% of the stock is owned by institutional investors.

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.