Energy Transfer LP (NYSE:ET - Get Free Report) dropped 2.8% during trading on Thursday . The company traded as low as $15.93 and last traded at $16.21. Approximately 5,508,990 shares traded hands during trading, a decline of 64% from the average daily volume of 15,161,495 shares. The stock had previously closed at $16.67.
Analysts Set New Price Targets
ET has been the topic of several research reports. UBS Group restated a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Wells Fargo & Company boosted their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. Royal Bank of Canada reiterated an "outperform" rating and issued a $23.00 target price on shares of Energy Transfer in a report on Tuesday, March 25th. Stifel Nicolaus lifted their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Finally, Morgan Stanley raised their target price on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $22.09.
Check Out Our Latest Research Report on ET
Energy Transfer Stock Up 2.9 %
The business has a 50-day moving average price of $18.55 and a 200-day moving average price of $18.44. The firm has a market cap of $57.68 billion, a P/E ratio of 13.13, a P/E/G ratio of 0.64 and a beta of 1.32. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42.
Energy Transfer (NYSE:ET - Get Free Report) last posted its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 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%. On average, equities analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal 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 given a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 7.73%. The ex-dividend date was Friday, February 7th. This is a boost from Energy Transfer's previous quarterly dividend of $0.32. Energy Transfer's dividend payout ratio (DPR) is 101.56%.
Hedge Funds Weigh In On Energy Transfer
A number of large investors have recently added to or reduced their stakes in the company. Stonegate Investment Group LLC boosted its stake in Energy Transfer by 1.4% in the fourth quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company's stock valued at $672,000 after acquiring an additional 482 shares in the last quarter. Private Client Services LLC grew its stake in Energy Transfer by 3.1% during the 4th quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company's stock worth $331,000 after buying an additional 511 shares during the last quarter. United Advisor Group LLC raised its stake in Energy Transfer by 3.0% in the fourth quarter. United Advisor Group LLC now owns 18,540 shares of the pipeline company's stock valued at $363,000 after buying an additional 534 shares during the last quarter. Wealthspire Advisors LLC boosted its holdings in Energy Transfer by 0.4% in the fourth quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company's stock worth $2,551,000 after acquiring an additional 535 shares in the last quarter. Finally, Cannell & Spears LLC increased its holdings in shares of Energy Transfer by 0.4% during the fourth quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company's stock valued at $2,657,000 after acquiring an additional 546 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.
About Energy Transfer
(
Get Free Report)
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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