Energy Transfer (NYSE:ET) Shares Down 0.2% – What’s Next?

Energy Transfer LP (NYSE:ET)’s stock price traded down 0.2% on Tuesday . The company traded as low as $18.40 and last traded at $18.67. 4,052,663 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 13,620,939 shares. The stock had previously closed at $18.70.

Analyst Ratings Changes

Several analysts have recently issued reports on ET shares. Royal Bank of Canada increased their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Wells Fargo & Company lifted their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday. Bank of America initiated coverage on Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. UBS Group increased their price objective on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. 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. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.40.

Energy Transfer Trading Up 0.4 %

The company has a 50-day simple moving average of $17.72 and a 200-day simple moving average of $16.60. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The stock has a market cap of $62.55 billion, a P/E ratio of 13.43, a P/E/G ratio of 0.63 and a beta of 1.70.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same period in the prior year, the business earned $0.31 earnings per share. Energy Transfer’s quarterly revenue was up .2% on a year-over-year basis. On average, sell-side analysts forecast that Energy Transfer LP will post 1.32 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were issued a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a yield of 7.06%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio is presently 94.85%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Princeton Global Asset Management LLC grew its stake in Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 650 shares during the period. Assetmark Inc. grew its position in shares of Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares during the period. HWG Holdings LP bought a new stake in Energy Transfer during the 2nd quarter worth approximately $33,000. Sugarloaf Wealth Management LLC raised its holdings in Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after buying an additional 750 shares during the period. Finally, Continuum Advisory LLC lifted its stake in Energy Transfer by 44.8% in the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock valued at $40,000 after buying an additional 729 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.