Energy Transfer (NYSE:ET) Shares Down 0% on Analyst Downgrade

Energy Transfer LP (NYSE:ET - Get Free Report) shares dropped 0% during trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $25.00 to $23.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Energy Transfer traded as low as $17.79 and last traded at $17.95. Approximately 3,372,040 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 15,504,013 shares. The stock had previously closed at $17.95.

Several other research analysts have also weighed in on the stock. Citigroup reiterated a "buy" rating on shares of Energy Transfer in a research note on Monday, March 24th. Wells Fargo & Company dropped their price target on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Morgan Stanley boosted their target price on Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Royal Bank of Canada reissued an "outperform" rating and issued a $23.00 price target on shares of Energy Transfer in a research note on Tuesday, March 25th. Finally, Stifel Nicolaus raised their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $22.36.

Institutional Trading of Energy Transfer

Large investors have recently modified their holdings of the company. Alps Advisors Inc. boosted its holdings in Energy Transfer by 12.9% during the first quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company's stock valued at $1,400,831,000 after acquiring an additional 8,613,645 shares during the period. FMR LLC lifted its position in shares of Energy Transfer by 15.7% during the 4th quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock worth $756,840,000 after purchasing an additional 5,254,721 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in Energy Transfer by 2.6% during the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 38,205,495 shares of the pipeline company's stock valued at $710,240,000 after purchasing an additional 951,656 shares during the period. Kayne Anderson Capital Advisors LP grew its holdings in Energy Transfer by 0.8% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 24,170,455 shares of the pipeline company's stock valued at $449,329,000 after buying an additional 182,705 shares during the last quarter. Finally, Energy Income Partners LLC increased its position in Energy Transfer by 12.0% in the 1st quarter. Energy Income Partners LLC now owns 23,120,066 shares of the pipeline company's stock worth $429,802,000 after buying an additional 2,471,401 shares during the period. 38.22% of the stock is owned by institutional investors.

Energy Transfer Trading Up 0.5%

The business has a fifty day moving average price of $17.48 and a 200 day moving average price of $18.58. The company has a market capitalization of $61.88 billion, a price-to-earnings ratio of 14.09, a price-to-earnings-growth ratio of 0.64 and a beta of 0.77. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The firm had revenue of $21.02 billion during the quarter, compared to the consensus estimate of $22.28 billion. During the same period in the prior year, the firm earned $0.32 EPS. The business's revenue was down 2.8% on a year-over-year basis. On average, equities analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th will be issued a $0.3275 dividend. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.31 annualized dividend and a yield of 7.26%. Energy Transfer's dividend payout ratio is 99.24%.

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.

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