Energy Transfer (NYSE:ET) Stock Price Down 3% - Here's Why

Energy Transfer LP (NYSE:ET - Get Free Report)'s share price fell 3% on Friday . The company traded as low as $15.52 and last traded at $15.43. 5,817,252 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 15,192,480 shares. The stock had previously closed at $15.91.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ET. UBS Group reiterated a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. Barclays increased their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Citigroup restated a "buy" rating on shares of Energy Transfer in a report on Monday, March 24th. Stifel Nicolaus lifted their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Finally, The Goldman Sachs Group upped their target price on Energy Transfer from $17.00 to $20.00 and gave the company a "neutral" rating in a report on Thursday, December 19th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, Energy Transfer currently has a consensus rating of "Moderate Buy" and an average target price of $22.09.

Energy Transfer Price Performance

The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The stock has a market cap of $58.69 billion, a PE ratio of 13.36, a PEG ratio of 0.64 and a beta of 1.32. The business has a 50-day moving average price of $18.47 and a 200 day moving average price of $18.44.

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Energy Transfer (NYSE:ET - Get Free Report) last posted its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate 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, research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm 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. This is a boost from Energy Transfer's previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a yield of 7.60%. Energy Transfer's payout ratio is presently 101.56%.

Hedge Funds Weigh In On Energy Transfer

Several hedge funds have recently made changes to their positions in ET. Bank of Montreal Can boosted its stake in Energy Transfer by 12,090.8% in the 4th quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company's stock worth $244,005,000 after purchasing an additional 12,353,441 shares during the period. FMR LLC grew its stake in Energy Transfer by 15.7% during the fourth quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock valued at $756,840,000 after acquiring an additional 5,254,721 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in Energy Transfer during the 4th quarter worth approximately $79,113,000. Hsbc Holdings PLC purchased a new stake in Energy Transfer in the 4th quarter worth approximately $50,166,000. Finally, Westwood Holdings Group Inc. boosted its holdings in Energy Transfer by 18.2% in the 4th quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company's stock valued at $319,929,000 after purchasing an additional 2,512,060 shares during the period. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

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.