Energy Transfer (NYSE:ET) Stock Price Down 3.9% - Here's What Happened

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus boosted their target price 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. The Goldman Sachs Group lifted their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the company a "neutral" rating in a report on Thursday, December 19th. Wells Fargo & Company lifted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company an "overweight" rating in a report on Wednesday, December 18th. Barclays lifted their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Finally, Royal Bank of Canada lifted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an "outperform" rating in a report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Energy Transfer presently has an average rating of "Moderate Buy" and an average price target 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 business's 50 day simple moving average is $19.81 and its 200-day simple moving average is $18.10. The stock has a market capitalization 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.

Energy Transfer (NYSE:ET - Get Free Report) last posted its 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%. 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 Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.44%. This is an increase from Energy Transfer's previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer's payout ratio is 101.56%.

Institutional Trading of Energy Transfer

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mountain Hill Investment Partners Corp. bought a new stake in shares of Energy Transfer during the 4th quarter worth about $25,000. Capital A Wealth Management LLC bought a new stake in shares of Energy Transfer during the 4th quarter worth about $26,000. Assetmark Inc. raised its position in shares of Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company's stock worth $28,000 after buying an additional 1,668 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Energy Transfer during the 4th quarter worth about $29,000. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Energy Transfer during the 4th quarter worth about $29,000. 38.22% of the stock is currently owned by institutional investors.

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.