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

Energy Transfer LP (NYSE:ETGet Free Report) shares fell 0.7% during trading on Friday . The company traded as low as $15.16 and last traded at $15.19. 2,515,891 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 11,965,521 shares. The stock had previously closed at $15.30.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ET. UBS Group increased their price target on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research note 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. Citigroup increased their price target on Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Mizuho reiterated a “buy” rating and issued a $19.00 price target (up from $18.00) on shares of Energy Transfer in a research note on Thursday, April 18th. Finally, Morgan Stanley increased their price target on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $18.86.

Get Our Latest Analysis on Energy Transfer

Energy Transfer Stock Performance

The firm has a market capitalization of $51.09 billion, a P/E ratio of 13.98, a price-to-earnings-growth ratio of 0.43 and a beta of 1.63. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37. The company has a 50-day moving average of $15.70 and a 200-day moving average of $14.84.

Energy Transfer (NYSE:ETGet Free Report) last announced its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) 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 the consensus estimate of $20.91 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 earnings per share. On average, equities analysts anticipate that Energy Transfer LP will post 1.43 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were issued a dividend of $0.317 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 dividend on an annualized basis and a yield of 8.36%. The ex-dividend date of this dividend was Friday, May 10th. Energy Transfer’s dividend payout ratio (DPR) is presently 116.51%.

Institutional Trading of Energy Transfer

A number of large investors have recently bought and sold shares of the business. Atomi Financial Group Inc. acquired a new stake in shares of Energy Transfer in the 3rd quarter valued at about $344,000. Mizuho Markets Americas LLC acquired a new stake in shares of Energy Transfer in the 3rd quarter valued at about $1,463,000. PNC Financial Services Group Inc. grew its stake in shares of Energy Transfer by 9.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 383,925 shares of the pipeline company’s stock valued at $5,386,000 after buying an additional 32,229 shares during the period. WCG Wealth Advisors LLC acquired a new stake in shares of Energy Transfer in the 3rd quarter valued at about $268,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of 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 buying an additional 513,989 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

About Energy Transfer

(Get Free Report)

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.

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