Energy Transfer (NYSE:ET) Trading Down 1%

Energy Transfer LP (NYSE:ET)’s share price was down 1% during trading on Tuesday . The stock traded as low as $15.77 and last traded at $15.82. Approximately 4,503,458 shares changed hands during trading, a decline of 63% from the average daily volume of 12,133,672 shares. The stock had previously closed at $15.98.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Mizuho reiterated a “buy” rating and set a $19.00 price objective (up from $18.00) on shares of Energy Transfer in a research note on Thursday, April 18th. UBS Group lowered their price target on Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, February 15th. Finally, Citigroup upped their price objective on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Energy Transfer Stock Down 1.6 %

The company has a market cap of $52.16 billion, a price-to-earnings ratio of 14.20 and a beta of 1.63. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.88 and a current ratio of 1.10. The business’s 50 day simple moving average is $15.42 and its 200-day simple moving average is $14.37.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.29 by $0.08. The company had revenue of $20.53 billion for the quarter, compared to the consensus estimate of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the company posted $0.34 earnings per share. Sell-side analysts expect that Energy Transfer LP will post 1.56 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be given a $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 8.19%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, May 10th. Energy Transfer’s dividend payout ratio is 115.60%.

Institutional Trading of Energy Transfer

A number of hedge funds and other institutional investors have recently modified their holdings of ET. Alps Advisors Inc. lifted its holdings in shares of Energy Transfer by 14.5% during the 3rd quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock valued at $1,033,541,000 after purchasing an additional 9,341,798 shares in the last quarter. UBS Group AG lifted its stake in Energy Transfer by 13.3% in the fourth quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company’s stock valued at $395,270,000 after acquiring an additional 3,368,427 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Energy Transfer by 38.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock worth $353,576,000 after acquiring an additional 7,097,074 shares during the period. Clearbridge Investments LLC increased its holdings in shares of Energy Transfer by 18.5% in the fourth quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock valued at $350,845,000 after purchasing an additional 3,976,676 shares during the last quarter. Finally, First Reserve GP XIII Ltd bought a new stake in shares of Energy Transfer during the 4th quarter worth about $322,097,000. 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.