Energy Transfer (NYSE:ET) Shares Down 0.9% – Here’s What Happened

Energy Transfer LP (NYSE:ET)’s share price traded down 0.9% during trading on Friday . The company traded as low as $18.58 and last traded at $18.71. 2,317,039 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 14,456,998 shares. The stock had previously closed at $18.88.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ET shares. Royal Bank of Canada reissued an “outperform” rating and set a $23.00 target price on shares of Energy Transfer in a research note on Tuesday. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Citigroup restated a “buy” rating on shares of Energy Transfer in a report on Monday. Morgan Stanley boosted their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Stifel Nicolaus increased their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.09.

Energy Transfer Price Performance

The stock has a 50 day moving average of $19.49 and a two-hundred day moving average of $18.34. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The firm has a market capitalization of $63.91 billion, a P/E ratio of 14.55, a P/E/G ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. Sell-side analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a $0.325 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a yield of 6.98%. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer’s payout ratio is currently 101.56%.

Hedge Funds Weigh In On Energy Transfer

A number of institutional investors and hedge funds have recently bought and sold shares of ET. Watts Gwilliam & Co. LLC bought a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in shares of Energy Transfer by 4.0% in the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock valued at $148,621,000 after buying an additional 293,088 shares in the last quarter. Forvis Mazars Wealth Advisors LLC lifted its holdings in shares of Energy Transfer by 164.1% during the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company’s stock worth $1,186,000 after acquiring an additional 37,633 shares during the period. Paragon Capital Management Ltd boosted its position in shares of Energy Transfer by 435.5% during the 4th quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock valued at $1,346,000 after acquiring an additional 55,890 shares in the last quarter. Finally, FFG Partners LLC increased its stake in Energy Transfer by 0.9% in the fourth quarter. FFG Partners LLC now owns 1,650,574 shares of the pipeline company’s stock valued at $32,335,000 after acquiring an additional 13,948 shares during the period. Institutional investors own 38.22% of the company’s stock.

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.