Energy Transfer (NYSE:ET) Stock Price Down 0.4%

Energy Transfer LP (NYSE:ET) shares traded down 0.4% on Friday . The company traded as low as $15.86 and last traded at $15.88. 1,613,009 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 12,235,557 shares. The stock had previously closed at $15.94.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. UBS Group decreased their target price on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Citigroup upped their target price on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, Mizuho reiterated a “buy” rating and issued a $19.00 price target (up previously from $18.00) on shares of Energy Transfer in a research note on Thursday, April 18th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Energy Transfer Stock Up 0.1 %

The company’s 50 day moving average price is $15.33 and its two-hundred day moving average price is $14.31. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37. The stock has a market cap of $53.76 billion, a P/E ratio of 14.57 and a beta of 1.64.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.08. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The firm had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $21.46 billion. During the same quarter in the prior year, the business earned $0.34 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. Equities analysts forecast that Energy Transfer LP will post 1.48 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be issued a $0.317 dividend. This represents a $1.27 annualized dividend and a yield of 7.95%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, May 10th. Energy Transfer’s dividend payout ratio is currently 115.60%.

Institutional Investors Weigh In On Energy Transfer

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northwest Financial Advisors purchased a new stake in Energy Transfer during the 4th quarter valued at approximately $25,000. Rise Advisors LLC boosted its position in shares of Energy Transfer by 88.2% during the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 927 shares during the last quarter. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Energy Transfer during the 4th quarter valued at approximately $33,000. Harbor Investment Advisory LLC boosted its position in shares of Energy Transfer by 42.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 750 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new position in shares of Energy Transfer during the 4th quarter valued at approximately $34,000. 38.22% of the stock is 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.