Energy Transfer (NYSE:ET) Trading Down 2.3% – What’s Next?

Energy Transfer LP (NYSE:ET)’s share price dropped 2.3% during mid-day trading on Tuesday . The stock traded as low as $19.54 and last traded at $19.60. Approximately 13,961,014 shares were traded during mid-day trading, a decline of 12% from the average daily volume of 15,939,971 shares. The stock had previously closed at $20.07.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. JPMorgan Chase & Co. raised their price target on shares of Energy Transfer from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Morgan Stanley lifted their price target on shares of Energy Transfer from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 10th. Stifel Nicolaus boosted their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, TD Cowen restated a “buy” rating and issued a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Energy Transfer has an average rating of “Buy” and an average target price of $23.27.

Energy Transfer Price Performance

The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50. The business’s 50-day simple moving average is $19.38 and its two-hundred day simple moving average is $18.10. The firm has a market cap of $67.45 billion, a price-to-earnings ratio of 16.33, a P/E/G ratio of 1.21 and a beta of 0.57.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The firm had revenue of $27.77 billion during the quarter, compared to analyst estimates of $25.78 billion. During the same quarter last year, the firm posted $0.36 EPS. The firm’s revenue for the quarter was up 32.1% on a year-over-year basis. As a group, research analysts expect that Energy Transfer LP will post 1.37 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were given a dividend of $0.3375 per share. This represents a $1.35 dividend on an annualized basis and a yield of 6.9%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, May 8th. Energy Transfer’s payout ratio is currently 112.50%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Keybank National Association OH boosted its position in shares of Energy Transfer by 0.3% during the 1st quarter. Keybank National Association OH now owns 219,232 shares of the pipeline company’s stock valued at $4,231,000 after purchasing an additional 556 shares in the last quarter. Mountain Capital Investment Advisors Inc. lifted its stake in Energy Transfer by 4.9% in the fourth quarter. Mountain Capital Investment Advisors Inc. now owns 12,007 shares of the pipeline company’s stock valued at $216,000 after buying an additional 560 shares during the period. Marks Wealth LLC lifted its stake in Energy Transfer by 4.7% in the fourth quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company’s stock valued at $207,000 after buying an additional 560 shares during the period. Citizens Financial Group Inc. RI boosted its holdings in shares of Energy Transfer by 2.4% during the 1st quarter. Citizens Financial Group Inc. RI now owns 23,978 shares of the pipeline company’s stock worth $463,000 after buying an additional 562 shares in the last quarter. Finally, Avos Capital Management LLC boosted its holdings in shares of Energy Transfer by 0.8% during the 4th quarter. Avos Capital Management LLC now owns 76,695 shares of the pipeline company’s stock worth $1,265,000 after buying an additional 583 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.