Energy Transfer (NYSE:ET) Shares Down 1.8% - What's Next?

Key Points

• Shares dipped 1.8% midday to about $18.84 on roughly 15.4 million shares traded, slightly below its recent average volume.
• Energy Transfer missed quarterly EPS expectations ($0.25 vs. $0.34 est.) but posted revenue of $25.32 billion (up 29.6% YoY) and raised its quarterly dividend to $0.335 (a 7.1% yield), while its dividend payout ratio is elevated at 110.74%.
• Analysts collectively rate ET a "Moderate Buy" with an average price target of $21.60, reflecting a mix of buy/outperform and hold/equal-weight views from recent reports.

Energy Transfer LP (NYSE:ET - Get Free Report)'s share price dropped 1.8% during mid-day trading on Monday . The stock traded as low as $18.74 and last traded at $18.8350. Approximately 15,393,996 shares traded hands during trading, a decline of 6% from the average daily volume of 16,447,463 shares. The stock had previously closed at $19.19.

Analyst Ratings Changes

ET has been the subject of several research reports. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Energy Transfer in a report on Wednesday, December 24th. Scotiabank reaffirmed an "outperform" rating on shares of Energy Transfer in a report on Friday, January 16th. Morgan Stanley raised their price target on Energy Transfer from $19.00 to $21.00 and gave the company an "equal weight" rating in a report on Tuesday, March 10th. Barclays reaffirmed an "overweight" rating and set a $22.00 price target (down from $25.00) on shares of Energy Transfer in a report on Monday, January 12th. Finally, Truist Financial assumed coverage on Energy Transfer in a report on Tuesday, March 24th. They set a "buy" rating and a $23.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Energy Transfer has a consensus rating of "Moderate Buy" and an average price target of $21.60.

Energy Transfer Stock Down 1.8%

The company has a debt-to-equity ratio of 1.50, a current ratio of 1.22 and a quick ratio of 0.90. The company has a market cap of $64.80 billion, a P/E ratio of 15.57, a PEG ratio of 1.07 and a beta of 0.62. The stock has a 50-day moving average of $18.79 and a 200 day moving average of $17.53.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings results on Tuesday, February 17th. The pipeline company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.09). Energy Transfer had a return on equity of 10.17% and a net margin of 5.11%.The company had revenue of $25.32 billion during the quarter, compared to the consensus estimate of $23.56 billion. During the same quarter in the previous year, the business posted $0.29 EPS. The firm's revenue for the quarter was up 29.6% on a year-over-year basis. Research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Friday, February 6th were given a $0.335 dividend. The ex-dividend date was Friday, February 6th. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.34 dividend on an annualized basis and a dividend yield of 7.1%. Energy Transfer's dividend payout ratio (DPR) is 110.74%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Basepoint Wealth LLC bought a new position in Energy Transfer in the fourth quarter valued at about $25,000. Gables Capital Management Inc. grew its position in Energy Transfer by 60.0% in the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company's stock valued at $26,000 after acquiring an additional 600 shares during the last quarter. Sarver Vrooman Wealth Advisors bought a new position in Energy Transfer in the fourth quarter valued at about $32,000. Financial Life Planners bought a new position in Energy Transfer in the third quarter valued at about $34,000. Finally, Navalign LLC acquired a new stake in shares of Energy Transfer during the fourth quarter valued at about $37,000. Institutional investors own 38.22% of the company's stock.

About Energy Transfer

Energy Transfer NYSE: ET is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company's operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.

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