Energy Transfer (NYSE:ET) Trading Down 3.9% - Here's Why

Energy Transfer LP (NYSE:ET - Get Free Report) shares were down 3.9% on Tuesday . The stock traded as low as $18.10 and last traded at $18.29. Approximately 10,113,682 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 16,692,336 shares. The stock had previously closed at $19.03.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ET shares. Stifel Nicolaus upped their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Royal Bank of Canada increased their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. Wells Fargo & Company increased their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Wednesday, December 18th. UBS Group reissued a "buy" rating on shares of Energy Transfer in a research report on Tuesday. Finally, Barclays increased their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday, January 13th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $21.55.

Energy Transfer Price Performance

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 cap of $59.97 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. The stock's 50 day simple moving average is $19.81 and its 200-day simple moving average is $18.09.

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

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were paid a $0.325 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.44%. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. Energy Transfer's dividend payout ratio is presently 101.56%.

Institutional Trading of Energy Transfer

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Stonegate Investment Group LLC increased 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 period. Private Client Services LLC grew its position in Energy Transfer by 3.1% during the fourth quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company's stock valued at $331,000 after buying an additional 511 shares during the period. United Advisor Group LLC grew its position in Energy Transfer by 3.0% during the fourth quarter. United Advisor Group LLC now owns 18,540 shares of the pipeline company's stock valued at $363,000 after buying an additional 534 shares during the period. Wealthspire Advisors LLC grew its position in Energy Transfer by 0.4% during the fourth quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company's stock valued at $2,551,000 after buying an additional 535 shares during the period. Finally, Cannell & Spears LLC grew its position in Energy Transfer by 0.4% during the fourth quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company's stock valued at $2,657,000 after buying an additional 546 shares during the period. Institutional investors and hedge funds 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.