Energy Transfer (NYSE:ET) Shares Down 1.4%

Shares of Energy Transfer LP (NYSE:ET) traded down 1.4% during mid-day trading on Monday . The stock traded as low as $16.05 and last traded at $16.05. 3,543,930 shares were traded during trading, a decline of 72% from the average session volume of 12,644,583 shares. The stock had previously closed at $16.27.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ET shares. JPMorgan Chase & Co. increased their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Morgan Stanley raised their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. UBS Group lifted their price target on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Stifel Nicolaus lifted their price target on shares of Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Finally, Mizuho lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and an average price target of $19.29.

Energy Transfer Price Performance

The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. The stock has a market cap of $53.92 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 0.43 and a beta of 1.66. The business’s fifty day simple moving average is $15.88 and its 200 day simple moving average is $15.37.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The firm had revenue of $21.63 billion during the quarter, compared to analyst estimates of $20.91 billion. During the same quarter in the prior year, the firm earned $0.32 EPS. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. Research analysts predict that Energy Transfer LP will post 1.47 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Friday, August 9th will be issued a $0.32 dividend. The ex-dividend date is Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a yield of 8.00%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 116.51%.

Institutional Investors Weigh In On Energy Transfer

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Gradient Investments LLC grew its position in shares of Energy Transfer by 59.5% during the 4th quarter. Gradient Investments LLC now owns 4,484 shares of the pipeline company’s stock valued at $62,000 after buying an additional 1,673 shares during the last quarter. Foster Victor Wealth Advisors LLC grew its position in shares of Energy Transfer by 5.9% during the 4th quarter. Foster Victor Wealth Advisors LLC now owns 18,036 shares of the pipeline company’s stock valued at $252,000 after buying an additional 1,012 shares during the last quarter. Spirit of America Management Corp NY grew its position in Energy Transfer by 3.6% in the 4th quarter. Spirit of America Management Corp NY now owns 796,200 shares of the pipeline company’s stock worth $10,988,000 after purchasing an additional 27,330 shares during the last quarter. Covenant Asset Management LLC grew its position in Energy Transfer by 11.5% in the 4th quarter. Covenant Asset Management LLC now owns 57,678 shares of the pipeline company’s stock worth $796,000 after purchasing an additional 5,937 shares during the last quarter. Finally, Chicago Capital LLC bought a new position in Energy Transfer in the 4th quarter worth about $603,000. Institutional investors 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.