Energy Transfer (NYSE:ET) Stock Price Down 0.7%

Energy Transfer LP (NYSE:ET - Get Free Report)'s share price traded down 0.7% during mid-day trading on Wednesday . The stock traded as low as $15.60 and last traded at $15.62. 3,862,922 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 12,145,229 shares. The stock had previously closed at $15.73.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Mizuho restated a "buy" rating and issued a $19.00 price target (up previously from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. UBS Group decreased their price target on shares of Energy Transfer from $23.00 to $22.00 and set a "buy" rating on the stock in a research report on Thursday, February 15th. Finally, Citigroup lifted their price objective on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Wednesday, February 21st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.00.

Energy Transfer Stock Performance

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 stock has a market capitalization of $52.16 billion, a PE ratio of 14.20 and a beta of 1.64. The firm's 50-day simple moving average is $15.42 and its two-hundred day simple moving average is $14.37.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.08. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The firm had revenue of $20.53 billion for the quarter, compared to analysts' expectations of $21.46 billion. During the same period in the previous year, the company posted $0.34 EPS. The company's quarterly revenue was up .2% compared to the same quarter last year. On average, equities research analysts expect that Energy Transfer LP will post 1.57 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be issued a dividend of $0.317 per share. This is a boost from Energy Transfer's previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a dividend yield of 8.19%. The ex-dividend date is Friday, May 10th. Energy Transfer's payout ratio is currently 115.60%.

Hedge Funds Weigh In On Energy Transfer

Several institutional investors and hedge funds have recently modified their holdings of the stock. Essex Financial Services Inc. lifted its position in Energy Transfer by 2.2% during the 1st quarter. Essex Financial Services Inc. now owns 33,569 shares of the pipeline company's stock worth $528,000 after acquiring an additional 708 shares during the last quarter. Veracity Capital LLC lifted its position in Energy Transfer by 2.2% during the 1st quarter. Veracity Capital LLC now owns 32,916 shares of the pipeline company's stock worth $518,000 after acquiring an additional 713 shares during the last quarter. Activest Wealth Management lifted its position in Energy Transfer by 33.9% during the 4th quarter. Activest Wealth Management now owns 2,909 shares of the pipeline company's stock worth $40,000 after acquiring an additional 736 shares during the last quarter. Hexagon Capital Partners LLC lifted its position in Energy Transfer by 7.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 10,155 shares of the pipeline company's stock worth $160,000 after acquiring an additional 737 shares during the last quarter. Finally, Harbor Investment Advisory LLC lifted its position in Energy Transfer by 42.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company's stock worth $34,000 after acquiring an additional 750 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other 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.