Energy Transfer (NYSE:ET) Stock Price Down 0.2% – Here’s Why

by · The Cerbat Gem

Energy Transfer LP (NYSE:ET – Get Free Report)’s stock price traded down 0.2% during trading on Wednesday . The company traded as low as $19.36 and last traded at $19.45. 2,556,475 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 12,665,301 shares. The stock had previously closed at $19.49.

Analyst Upgrades and Downgrades

ET has been the topic of a number of analyst reports. The Goldman Sachs Group raised their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Wells Fargo & Company increased their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Barclays increased their target price on shares of Energy Transfer from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. UBS Group boosted their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Royal Bank of Canada lifted their target price on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.55.

Read Our Latest Analysis on ET

Energy Transfer Trading Up 0.4 %

The business has a 50 day moving average of $18.54 and a 200 day moving average of $16.99. The firm has a market cap of $67.01 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET – Get Free Report) last released its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the company earned $0.31 earnings per share. On average, research analysts forecast that Energy Transfer LP will post 1.32 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 6.59%. Energy Transfer’s payout ratio is currently 94.85%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ET. FMR LLC boosted its holdings in shares of Energy Transfer by 44.0% during the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after acquiring an additional 10,195,768 shares during the period. International Assets Investment Management LLC raised its stake in Energy Transfer by 1,491.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock valued at $67,020,000 after acquiring an additional 3,913,266 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Energy Transfer by 36.7% in the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after purchasing an additional 3,106,631 shares during the period. Citigroup Inc. increased its stake in Energy Transfer by 45.9% during the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock valued at $153,787,000 after buying an additional 3,013,973 shares during the period. Finally, Pathway Financial Advisers LLC increased its position in shares of Energy Transfer by 1,837.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,338,885 shares of the pipeline company’s stock valued at $21,489,000 after purchasing an additional 1,269,778 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

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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