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

Energy Transfer LP (NYSE:ET)’s stock price traded down 0.7% during trading on Wednesday . The company traded as low as $15.87 and last traded at $15.88. 9,182,664 shares changed hands during trading, a decline of 23% from the average session volume of 11,872,734 shares. The stock had previously closed at $16.00.

Analyst Ratings Changes

A number of analysts recently weighed in on ET shares. UBS Group increased their price objective on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Stifel Nicolaus increased their price target on Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Morgan Stanley lifted their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. Mizuho increased their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. One research analyst has rated the stock with a hold rating and seven have issued 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 price target of $19.29.

Energy Transfer Stock Up 0.7 %

The company has a market cap of $54.02 billion, a price-to-earnings ratio of 14.71, a P/E/G ratio of 0.44 and a beta of 1.63. The stock’s 50-day moving average is $15.71 and its 200-day moving average is $14.97. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.04). The company had revenue of $21.63 billion for the quarter, compared to analyst estimates of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. Energy Transfer’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.32 EPS. On average, analysts anticipate that Energy Transfer LP will post 1.45 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were issued a $0.317 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.27 annualized dividend and a yield of 7.91%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is presently 116.51%.

Institutional Investors Weigh In On Energy Transfer

Several hedge funds and other institutional investors have recently modified their holdings of ET. Envestnet Asset Management Inc. lifted its position in Energy Transfer by 230.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 736,634 shares of the pipeline company’s stock valued at $10,335,000 after acquiring an additional 513,989 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in shares of Energy Transfer by 37.3% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 4,756 shares of the pipeline company’s stock worth $67,000 after purchasing an additional 1,291 shares during the last quarter. Mutual Advisors LLC lifted its holdings in shares of Energy Transfer by 2.5% in the third quarter. Mutual Advisors LLC now owns 69,005 shares of the pipeline company’s stock valued at $968,000 after purchasing an additional 1,668 shares in the last quarter. Synovus Financial Corp boosted its position in shares of Energy Transfer by 364.0% during the third quarter. Synovus Financial Corp now owns 90,292 shares of the pipeline company’s stock valued at $1,267,000 after buying an additional 70,832 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in Energy Transfer by 6,759.3% during the third quarter. Tower Research Capital LLC TRC now owns 26,820 shares of the pipeline company’s stock worth $376,000 after buying an additional 26,429 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Company Profile

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.