Energy Transfer (NYSE:ET) Stock Price Down 1% - What's Next?

Energy Transfer LP (NYSE:ET - Get Free Report) shares traded down 1% during mid-day trading on Monday . The stock traded as low as $18.15 and last traded at $18.14. 4,421,876 shares were traded during trading, a decline of 72% from the average session volume of 15,568,424 shares. The stock had previously closed at $18.32.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. Royal Bank of Canada restated an "outperform" rating and set a $23.00 price target on shares of Energy Transfer in a report on Tuesday, March 25th. JPMorgan Chase & Co. decreased their price target on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Mizuho increased their price target on Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, May 20th. Finally, Citigroup restated a "buy" rating on shares of Energy Transfer in a report on Monday, March 24th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $22.64.

Energy Transfer Stock Down 1.0%

The company has a 50-day simple moving average of $17.38 and a 200 day simple moving average of $18.57. The company has a market cap of $62.25 billion, a P/E ratio of 14.17, a P/E/G ratio of 0.64 and a beta of 0.78. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. The company had revenue of $21.02 billion for the quarter, compared to the consensus estimate of $22.28 billion. During the same quarter in the prior year, the company posted $0.32 EPS. Energy Transfer's quarterly revenue was down 2.8% on a year-over-year basis. On average, equities analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were given a dividend of $0.3275 per share. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date was Friday, May 9th. This represents a $1.31 dividend on an annualized basis and a dividend yield of 7.22%. Energy Transfer's dividend payout ratio is presently 99.24%.

Hedge Funds Weigh In On Energy Transfer

A number of hedge funds and other institutional investors have recently made changes to their positions in ET. Mountain Hill Investment Partners Corp. bought a new position in shares of Energy Transfer during the 4th quarter worth $25,000. Capital A Wealth Management LLC bought a new position in shares of Energy Transfer during the 4th quarter worth $26,000. Fourth Dimension Wealth LLC bought a new position in shares of Energy Transfer during the 4th quarter worth $29,000. Vision Financial Markets LLC bought a new position in shares of Energy Transfer during the 1st quarter worth $33,000. Finally, United Community Bank purchased a new stake in shares of Energy Transfer during the 4th quarter worth $35,000. Institutional investors 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.