Energy Transfer (NYSE:ET) Shares Down 0.7%

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ET shares. UBS Group raised their price target on shares of 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 stock a “buy” rating in a research note on Thursday, May 9th. Mizuho lifted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. JPMorgan Chase & Co. increased their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. Finally, Morgan Stanley upped their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, June 10th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.29.

Energy Transfer Price Performance

The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00. The stock’s fifty day simple moving average is $15.70 and its 200-day simple moving average is $14.96. The company has a market capitalization of $53.65 billion, a P/E ratio of 14.56, a PEG ratio of 0.44 and a beta of 1.63.

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

Energy Transfer Increases Dividend

The business also recently disclosed 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 represents a $1.27 dividend on an annualized basis and a yield of 7.96%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, May 10th. Energy Transfer’s payout ratio is presently 116.51%.

Institutional Trading of Energy Transfer

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rehmann Capital Advisory Group grew its holdings in Energy Transfer by 2.0% during the 1st quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock worth $505,000 after acquiring an additional 633 shares during the period. Sfmg LLC increased its holdings in Energy Transfer by 2.2% in the first quarter. Sfmg LLC now owns 31,406 shares of the pipeline company’s stock valued at $494,000 after purchasing an additional 674 shares during the last quarter. FinTrust Capital Advisors LLC raised its holdings in Energy Transfer by 3.6% during the first quarter. FinTrust Capital Advisors LLC now owns 20,201 shares of the pipeline company’s stock worth $318,000 after acquiring an additional 700 shares in the last quarter. Essex Financial Services Inc. boosted its position in Energy Transfer by 2.2% during the first quarter. Essex Financial Services Inc. now owns 33,569 shares of the pipeline company’s stock valued at $528,000 after purchasing an additional 708 shares during the last quarter. Finally, Veracity Capital LLC grew its stake in Energy Transfer by 2.2% in the first quarter. Veracity Capital LLC now owns 32,916 shares of the pipeline company’s stock valued at $518,000 after purchasing an additional 713 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

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.