Energy Transfer (NYSE:ET) Stock Price Down 0.1%

Shares of Energy Transfer LP (NYSE:ET - Get Free Report) fell 0.1% during mid-day trading on Wednesday . The stock traded as low as $15.79 and last traded at $15.89. 1,584,771 shares changed hands during trading, a decline of 87% from the average session volume of 12,331,743 shares. The stock had previously closed at $15.90.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Mizuho reaffirmed a "buy" rating and set a $19.00 price objective (up previously from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. UBS Group dropped their price target on Energy Transfer from $23.00 to $22.00 and set a "buy" rating for the company in a report on Thursday, February 15th. Finally, Citigroup increased their target price on Energy Transfer from $17.00 to $18.00 and gave the stock a "buy" rating in a report on Wednesday, February 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.00.

Energy Transfer Stock Performance

The stock has a market cap of $53.47 billion, a price-to-earnings ratio of 14.56 and a beta of 1.64. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37. The firm has a fifty day simple moving average of $15.30 and a 200-day simple moving average of $14.30.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.08. The business had revenue of $20.53 billion for the quarter, compared to analyst estimates of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The firm's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 earnings per share. Analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Wednesday, February 7th were given a dividend of $0.315 per share. This is a boost from Energy Transfer's previous quarterly dividend of $0.31. The ex-dividend date was Tuesday, February 6th. This represents a $1.26 annualized dividend and a dividend yield of 7.94%. Energy Transfer's payout ratio is currently 115.60%.

Hedge Funds Weigh In On Energy Transfer

Large investors have recently bought and sold shares of the business. Alps Advisors Inc. raised its position in shares of Energy Transfer by 14.5% in the 3rd quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company's stock valued at $1,033,541,000 after acquiring an additional 9,341,798 shares during the period. UBS Group AG grew its holdings in shares of Energy Transfer by 13.3% in the 4th quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company's stock valued at $395,270,000 after buying an additional 3,368,427 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Energy Transfer by 38.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company's stock valued at $353,576,000 after buying an additional 7,097,074 shares in the last quarter. Clearbridge Investments LLC raised its stake in Energy Transfer by 18.5% during the 4th quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company's stock worth $350,845,000 after buying an additional 3,976,676 shares during the period. Finally, First Reserve GP XIII Ltd bought a new position in Energy Transfer during the fourth quarter worth about $322,097,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

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.