Energy Transfer (NYSE:ET) Stock Price Down 0.8%

Energy Transfer LP (NYSE:ET)’s stock price fell 0.8% on Wednesday . The stock traded as low as $16.21 and last traded at $16.27. 3,137,828 shares were traded during mid-day trading, a decline of 74% from the average session volume of 12,223,317 shares. The stock had previously closed at $16.40.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ET. Morgan Stanley increased their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. UBS Group increased their price target on shares of Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Mizuho increased their target price on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Stifel Nicolaus increased their target price on Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Finally, JPMorgan Chase & Co. increased their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.29.

Energy Transfer Stock Down 0.3 %

The business has a fifty day simple moving average of $15.87 and a two-hundred day simple moving average of $15.33. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37. The company has a market cap of $54.36 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 0.44 and a beta of 1.66.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The firm had revenue of $21.63 billion during the quarter, compared to analysts’ expectations of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.32 EPS. As a group, equities research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Institutional Trading of Energy Transfer

Hedge funds and other institutional investors have recently modified their holdings of the stock. NBC Securities Inc. increased its stake in shares of Energy Transfer by 4.3% in the 1st quarter. NBC Securities Inc. now owns 56,366 shares of the pipeline company’s stock worth $886,000 after acquiring an additional 2,326 shares during the last quarter. US Bancorp DE grew its position in Energy Transfer by 95.8% in the 4th quarter. US Bancorp DE now owns 145,894 shares of the pipeline company’s stock valued at $2,013,000 after acquiring an additional 71,386 shares in the last quarter. Savant Capital LLC grew its position in Energy Transfer by 19.7% in the 4th quarter. Savant Capital LLC now owns 26,335 shares of the pipeline company’s stock valued at $363,000 after acquiring an additional 4,340 shares in the last quarter. Arkadios Wealth Advisors grew its position in Energy Transfer by 3.3% in the 4th quarter. Arkadios Wealth Advisors now owns 28,250 shares of the pipeline company’s stock valued at $390,000 after acquiring an additional 903 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in Energy Transfer in the 4th quarter valued at about $1,368,000. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Company Profile

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.