Shares of Energy Transfer LP (NYSE:ET - Get Free Report) were down 1.5% during mid-day trading on Thursday . The company traded as low as $17.83 and last traded at $17.90. Approximately 2,394,006 shares changed hands during trading, a decline of 85% from the average daily volume of 15,478,960 shares. The stock had previously closed at $18.16.
Analyst Ratings Changes
A number of research analysts have recently commented on ET shares. JPMorgan Chase & Co. dropped their price target on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Monday. UBS Group reiterated a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. Citigroup reissued a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. Stifel Nicolaus upped their target price on Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley raised their price target on shares of Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. 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, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $22.36.
Check Out Our Latest Report on Energy Transfer
Energy Transfer Price Performance
The business's 50-day simple moving average is $17.48 and its two-hundred day simple moving average is $18.58. 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 $61.73 billion, a P/E ratio of 14.05, a price-to-earnings-growth ratio of 0.64 and a beta of 0.77.
Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) 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 business had revenue of $21.02 billion for the quarter, compared to analysts' expectations of $22.28 billion. During the same quarter in the previous year, the firm posted $0.32 EPS. The business's revenue for the quarter was down 2.8% compared to the same quarter last year. Sell-side analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.
Energy Transfer Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th will be paid a $0.3275 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.31 annualized dividend and a yield of 7.28%. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio (DPR) is currently 99.24%.
Institutional Investors Weigh In On Energy Transfer
A number of institutional investors and hedge funds have recently modified their holdings of the company. Stonegate Investment Group LLC grew its stake in shares of Energy Transfer by 1.4% in the fourth quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company's stock worth $672,000 after acquiring an additional 482 shares during the last quarter. United Advisor Group LLC boosted its stake in Energy Transfer by 3.0% in the 4th quarter. United Advisor Group LLC now owns 18,540 shares of the pipeline company's stock worth $363,000 after purchasing an additional 534 shares in the last quarter. Wealthspire Advisors LLC grew its position in Energy Transfer by 0.4% during the 4th quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company's stock valued at $2,551,000 after purchasing an additional 535 shares during the last quarter. Cannell & Spears LLC increased its stake in Energy Transfer by 0.4% during the 4th quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company's stock valued at $2,657,000 after purchasing an additional 546 shares in the last quarter. Finally, Daymark Wealth Partners LLC lifted its stake in shares of Energy Transfer by 0.3% in the fourth quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company's stock worth $3,148,000 after buying an additional 547 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other 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.
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