Energy Transfer (NYSE:ET) Stock Price Down 4.1% - Here's What Happened

Energy Transfer LP (NYSE:ET - Get Free Report) traded down 4.1% during trading on Wednesday . The stock traded as low as $14.90 and last traded at $15.01. 10,280,289 shares were traded during mid-day trading, a decline of 32% from the average session volume of 15,033,509 shares. The stock had previously closed at $15.65.

Wall Street Analysts Forecast Growth

ET has been the topic of several recent research reports. Wells Fargo & Company raised their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Wednesday, December 18th. Stifel Nicolaus raised their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Royal Bank of Canada reiterated an "outperform" rating and issued a $23.00 price objective on shares of Energy Transfer in a report on Tuesday, March 25th. The Goldman Sachs Group raised 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. Finally, UBS Group reiterated a "buy" rating on shares of Energy Transfer in a research note on Tuesday, March 4th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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 fifty day simple moving average of $18.55 and a 200-day simple moving average of $18.42. The stock has a market cap of $55.33 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32.

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Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) 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, equities research analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given 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 dividend yield of 8.06%. 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 Investors Weigh In On Energy Transfer

A number of institutional investors have recently added to or reduced their stakes in the company. National Bank of Canada FI grew its holdings in shares of Energy Transfer by 56.8% during the 3rd quarter. National Bank of Canada FI now owns 45,381 shares of the pipeline company's stock worth $728,000 after purchasing an additional 16,439 shares in the last quarter. MML Investors Services LLC boosted its stake in Energy Transfer by 2.4% during the third quarter. MML Investors Services LLC now owns 109,984 shares of the pipeline company's stock worth $1,765,000 after buying an additional 2,620 shares in the last quarter. M&T Bank Corp raised its stake in shares of Energy Transfer by 14.6% in the 3rd quarter. M&T Bank Corp now owns 174,368 shares of the pipeline company's stock valued at $2,799,000 after buying an additional 22,155 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Energy Transfer by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 126,331 shares of the pipeline company's stock valued at $2,028,000 after buying an additional 5,127 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its position in shares of Energy Transfer by 8.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 885,959 shares of the pipeline company's stock valued at $14,220,000 after acquiring an additional 67,021 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

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.