Energy Transfer (NYSE:ET) Trading Down 0.2% – Here’s What Happened

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. UBS Group boosted their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Bank of America started coverage on Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, Royal Bank of Canada upped their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $20.38.

Energy Transfer Price Performance

The company has a 50-day moving average of $17.63 and a two-hundred day moving average of $16.57. The stock has a market capitalization of $63.68 billion, a PE ratio of 13.73, a P/E/G ratio of 0.63 and a beta of 1.70. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88.

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

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 6.94%. Energy Transfer’s dividend payout ratio is presently 94.85%.

Institutional Investors Weigh In On Energy Transfer

Large investors have recently modified their holdings of the stock. FFG Partners LLC boosted its holdings in Energy Transfer by 3.3% in the third quarter. FFG Partners LLC now owns 1,636,626 shares of the pipeline company’s stock valued at $26,268,000 after purchasing an additional 52,302 shares during the last quarter. Fidelity D & D Bancorp Inc. bought a new position in Energy Transfer during the 3rd quarter worth approximately $1,207,000. Peapack Gladstone Financial Corp lifted its holdings in Energy Transfer by 6.8% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 15,675 shares of the pipeline company’s stock worth $251,000 after buying an additional 1,000 shares during the last quarter. Synovus Financial Corp lifted its holdings in Energy Transfer by 69.8% during the 3rd quarter. Synovus Financial Corp now owns 84,530 shares of the pipeline company’s stock worth $1,357,000 after buying an additional 34,749 shares during the last quarter. Finally, Tidal Investments LLC lifted its holdings in Energy Transfer by 1.2% during the 3rd quarter. Tidal Investments LLC now owns 101,738 shares of the pipeline company’s stock worth $1,633,000 after buying an additional 1,248 shares during the last quarter. 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.