Energy Transfer (NYSE:ET) Stock Price Down 0.1%

Shares of Energy Transfer LP (NYSE:ET) were down 0.1% during mid-day trading on Thursday . The company traded as low as $15.76 and last traded at $15.86. Approximately 3,295,852 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 12,306,559 shares. The stock had previously closed at $15.87.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Mizuho restated a “buy” rating and set a $19.00 price target (up from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. Citigroup raised their price target on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Finally, 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 research note on Thursday, February 15th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Energy Transfer Price Performance

The stock’s 50 day moving average price is $15.30 and its two-hundred day moving average price is $14.30. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88. The firm has a market capitalization of $53.71 billion, a price-to-earnings ratio of 14.56 and a beta of 1.64.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. The company had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $21.46 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.34 earnings per share. On average, equities research analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm 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 is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a yield of 7.95%. The ex-dividend date is Friday, May 10th. Energy Transfer’s payout ratio is currently 115.60%.

Institutional Investors Weigh In On Energy Transfer

Hedge funds have recently modified their holdings of the business. Mutual Advisors LLC boosted its holdings in Energy Transfer by 112.9% in the 4th quarter. Mutual Advisors LLC now owns 146,943 shares of the pipeline company’s stock valued at $2,028,000 after purchasing an additional 77,938 shares during the period. Envestnet Asset Management Inc. increased its stake in Energy Transfer by 230.9% during the third quarter. Envestnet Asset Management Inc. now owns 736,634 shares of the pipeline company’s stock valued at $10,335,000 after acquiring an additional 513,989 shares during the period. Arkadios Wealth Advisors raised its holdings in Energy Transfer by 3.3% in the 4th quarter. Arkadios Wealth Advisors now owns 28,250 shares of the pipeline company’s stock valued at $390,000 after acquiring an additional 903 shares in the last quarter. Fractal Investments LLC lifted its position in shares of Energy Transfer by 12.9% in the 3rd quarter. Fractal Investments LLC now owns 5,682,061 shares of the pipeline company’s stock worth $79,719,000 after acquiring an additional 647,885 shares during the period. Finally, Cutter & CO Brokerage Inc. grew its holdings in shares of Energy Transfer by 22.5% during the 3rd quarter. Cutter & CO Brokerage Inc. now owns 421,372 shares of the pipeline company’s stock worth $5,912,000 after purchasing an additional 77,352 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

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.