Energy Transfer (NYSE:ET) Stock Price Down 1.4%

Energy Transfer LP (NYSE:ET) shares fell 1.4% during mid-day trading on Tuesday . The stock traded as low as $14.97 and last traded at $15.02. 6,219,346 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 12,245,048 shares. The stock had previously closed at $15.23.

Analysts Set New Price Targets

Several analysts have commented on the stock. Citigroup increased their price target on shares of Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. UBS Group cut their price target on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and an average price target of $17.57.

Energy Transfer Price Performance

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 stock has a market capitalization of $50.95 billion, a PE ratio of 13.78 and a beta of 1.64. The stock’s 50 day moving average is $15.08 and its two-hundred day moving average is $14.20.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.08. The business 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 company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company earned $0.34 EPS. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.44 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Wednesday, February 7th were given a dividend of $0.315 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.31. This represents a $1.26 annualized dividend and a dividend yield of 8.33%. The ex-dividend date of this dividend was Tuesday, February 6th. Energy Transfer’s dividend payout ratio is currently 115.60%.

Hedge Funds Weigh In On Energy Transfer

Several hedge funds have recently added to or reduced their stakes in the stock. Howard Financial Services LTD. lifted its position in shares of Energy Transfer by 1.8% during the 1st quarter. Howard Financial Services LTD. now owns 162,702 shares of the pipeline company’s stock worth $2,559,000 after buying an additional 2,898 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Energy Transfer by 2.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 549,971 shares of the pipeline company’s stock valued at $8,651,000 after acquiring an additional 15,097 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its stake in Energy Transfer by 2.7% in the first quarter. Wealthcare Advisory Partners LLC now owns 161,686 shares of the pipeline company’s stock valued at $2,543,000 after acquiring an additional 4,216 shares in the last quarter. Sovereign Financial Group Inc. purchased a new position in shares of Energy Transfer during the first quarter worth about $187,000. Finally, Brookstone Capital Management increased its position in shares of Energy Transfer by 3.2% during the first quarter. Brookstone Capital Management now owns 190,124 shares of the pipeline company’s stock worth $2,991,000 after purchasing an additional 5,894 shares in the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

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.