Energy Transfer (NYSE:ET) Stock Price Down 5.1% – Here’s Why

Energy Transfer LP (NYSE:ET)’s stock price traded down 5.1% during trading on Thursday . The stock traded as low as $17.71 and last traded at $17.97. 13,085,045 shares traded hands during mid-day trading, a decline of 10% from the average session volume of 14,571,718 shares. The stock had previously closed at $18.93.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Citigroup reissued a “buy” rating on shares of Energy Transfer in a report on Monday, March 24th. Morgan Stanley increased their target price on Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. Wells Fargo & Company lifted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 price objective on shares of Energy Transfer in a research note on Tuesday, March 25th. Finally, The Goldman Sachs Group boosted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.09.

Energy Transfer Trading Down 9.1 %

The firm has a market cap of $55.30 billion, a P/E ratio of 12.59, a P/E/G ratio of 0.64 and a beta of 1.72. The business’s 50-day moving average is $19.18 and its two-hundred day moving average is $18.43. 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) last posted its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. As a group, analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a $0.325 dividend. The ex-dividend date of this dividend was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a yield of 8.07%. Energy Transfer’s dividend payout ratio (DPR) is currently 101.56%.

Hedge Funds Weigh In On Energy Transfer

Several hedge funds and other institutional investors have recently modified their holdings of the company. Mountain Hill Investment Partners Corp. bought a new stake in Energy Transfer in the 4th quarter valued at about $25,000. Capital A Wealth Management LLC acquired a new stake in shares of Energy Transfer in the fourth quarter valued at approximately $26,000. GAMMA Investing LLC bought a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $29,000. Fourth Dimension Wealth LLC acquired a new position in shares of Energy Transfer during the fourth quarter worth approximately $29,000. Finally, United Community Bank bought a new position in Energy Transfer in the 4th quarter worth approximately $35,000. Institutional investors and hedge funds 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.