Energy Transfer (NYSE:ET) Shares Down 0.2% – What’s Next?

Energy Transfer LP (NYSE:ET)’s stock price fell 0.2% during mid-day trading on Friday . The company traded as low as $20.13 and last traded at $20.20. 2,922,559 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 13,965,292 shares. The stock had previously closed at $20.25.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. The Goldman Sachs Group raised their price objective on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Royal Bank of Canada boosted their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Bank of America assumed coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective for the company. Wells Fargo & Company lifted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, Barclays raised their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and an average price target of $20.82.

Energy Transfer Trading Down 0.0 %

The firm has a market cap of $69.32 billion, a P/E ratio of 14.89, a PEG ratio of 0.57 and a beta of 1.70. The company’s 50 day moving average is $18.90 and its two-hundred day moving average is $17.14. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same quarter last year, the company earned $0.31 EPS. The company’s quarterly revenue was up .2% on a year-over-year basis. On average, sell-side analysts predict that Energy Transfer LP will post 1.34 earnings per share for the current year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were issued a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.37%. Energy Transfer’s payout ratio is presently 94.85%.

Institutional Investors Weigh In On Energy Transfer

Large investors have recently bought and sold shares of the business. FMR LLC increased its stake in shares of Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after buying an additional 10,195,768 shares during the period. International Assets Investment Management LLC boosted its holdings in Energy Transfer by 1,491.0% in the third 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 during the last quarter. BNP Paribas Financial Markets increased its position 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. raised its holdings in Energy Transfer by 45.9% during the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after purchasing an additional 3,013,973 shares during the last quarter. Finally, Pathway Financial Advisers LLC lifted its position in 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. 38.22% of the stock is currently owned by 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.