Energy Transfer (NYSE:ET) Shares Down 0.8% – Here’s What Happened

by · The Cerbat Gem

Shares of Energy Transfer LP (NYSE:ET – Get Free Report) were down 0.8% during trading on Monday . The company traded as low as $17.32 and last traded at $17.31. Approximately 2,772,813 shares changed hands during trading, a decline of 82% from the average daily volume of 15,231,998 shares. The stock had previously closed at $17.45.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Barclays increased their price objective 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. Morgan Stanley lifted their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a report on Monday, March 24th. Stifel Nicolaus raised their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.09.

Check Out Our Latest Research Report on Energy Transfer

Energy Transfer Stock Performance

The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The stock has a market cap of $59.24 billion, a P/E ratio of 13.50, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32. The firm’s 50-day moving average is $17.96 and its two-hundred day moving average is $18.50.

Energy Transfer (NYSE:ET – Get Free Report) last released its quarterly earnings results 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, research analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th will be given a $0.3275 dividend. This represents a $1.31 annualized dividend and a yield of 7.59%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, May 9th. Energy Transfer’s dividend payout ratio (DPR) is currently 102.34%.

Institutional Investors Weigh In On Energy Transfer

Several large investors have recently modified their holdings of ET. Stonegate Investment Group LLC boosted its stake in shares of Energy Transfer by 1.4% in the 4th quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock valued at $672,000 after purchasing an additional 482 shares in the last quarter. Private Client Services LLC raised its holdings in Energy Transfer by 3.1% in the 4th quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock valued at $331,000 after buying an additional 511 shares during the last quarter. United Advisor Group LLC raised its stake in shares of Energy Transfer by 3.0% during the fourth quarter. United Advisor Group LLC now owns 18,540 shares of the pipeline company’s stock valued at $363,000 after acquiring an additional 534 shares during the last quarter. Wealthspire Advisors LLC grew its position in shares of Energy Transfer by 0.4% in the 4th quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock valued at $2,551,000 after buying an additional 535 shares during the last quarter. Finally, Cannell & Spears LLC increased its stake in shares of Energy Transfer by 0.4% in the fourth quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company’s stock valued at $2,657,000 after buying an additional 546 shares during the period. 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.

Further Reading