Shares of Energy Transfer LP (NYSE:ET - Get Free Report) traded down 0.4% during mid-day trading on Wednesday . The stock traded as low as $17.84 and last traded at $17.94. 2,765,339 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 15,476,333 shares. The stock had previously closed at $18.00.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on ET. Citigroup reaffirmed a "buy" rating on shares of Energy Transfer in a research note on Monday, March 24th. Morgan Stanley upped their price objective on Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 25th. Stifel Nicolaus lifted their target price on Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Wells Fargo & Company lowered their target price on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $23.00 price target on shares of Energy Transfer in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $22.09.
Check Out Our Latest Stock Analysis on Energy Transfer
Energy Transfer Price Performance
The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The company's 50 day simple moving average is $17.48 and its 200 day simple moving average is $18.54. The company has a market capitalization of $61.50 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 0.64 and a beta of 0.77.
Energy Transfer (NYSE:ET - Get Free Report) last posted its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 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 firm had revenue of $21.02 billion for the quarter, compared to the consensus estimate of $22.28 billion. During the same period last year, the firm posted $0.32 EPS. The company's revenue was down 2.8% on a year-over-year basis. As a group, sell-side analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.
Energy Transfer Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th will be given a dividend of $0.3275 per share. The ex-dividend date is Friday, May 9th. This represents a $1.31 dividend on an annualized basis and a dividend yield of 7.31%. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is 99.24%.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. Forvis Mazars Wealth Advisors LLC raised its holdings in shares of Energy Transfer by 164.1% in the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company's stock valued at $1,186,000 after buying an additional 37,633 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in Energy Transfer by 4.0% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company's stock worth $148,621,000 after purchasing an additional 293,088 shares in the last quarter. Wedbush Securities Inc. raised its position in Energy Transfer by 44.2% during the fourth quarter. Wedbush Securities Inc. now owns 135,281 shares of the pipeline company's stock worth $2,650,000 after acquiring an additional 41,438 shares during the last quarter. Paragon Capital Management Ltd increased its position in Energy Transfer by 435.5% during the fourth quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company's stock worth $1,346,000 after buying an additional 55,890 shares in the last quarter. Finally, FFG Partners LLC boosted its stake in shares of Energy Transfer by 0.9% during the 4th quarter. FFG Partners LLC now owns 1,650,574 shares of the pipeline company's stock worth $32,335,000 after purchasing an additional 13,948 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company's stock.
Energy Transfer Company Profile
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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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