Energy Transfer (NYSE:ET) Trading Down 1.4%

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

Analyst Ratings Changes

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

Energy Transfer Stock Performance

The stock has a market capitalization of $54.63 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 0.42 and a beta of 1.66. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37. The stock has a fifty day moving average of $15.88 and a 200-day moving average of $15.40.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The business had revenue of $21.63 billion for the quarter, compared to analysts’ expectations of $20.91 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the firm earned $0.32 earnings per share. Equities analysts anticipate that Energy Transfer LP will post 1.47 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Friday, August 9th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 7.90%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, August 9th. Energy Transfer’s payout ratio is 116.51%.

Institutional Trading of Energy Transfer

A number of institutional investors have recently bought and sold shares of the business. NBC Securities Inc. lifted its holdings in shares of Energy Transfer by 4.3% in the 1st quarter. NBC Securities Inc. now owns 56,366 shares of the pipeline company’s stock valued at $886,000 after purchasing an additional 2,326 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Energy Transfer by 95.8% in the 4th quarter. US Bancorp DE now owns 145,894 shares of the pipeline company’s stock valued at $2,013,000 after purchasing an additional 71,386 shares during the last quarter. Savant Capital LLC lifted its holdings in shares of Energy Transfer by 19.7% in the 4th quarter. Savant Capital LLC now owns 26,335 shares of the pipeline company’s stock valued at $363,000 after purchasing an additional 4,340 shares during the last quarter. Arkadios Wealth Advisors lifted its holdings in shares of 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 purchasing an additional 903 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of Energy Transfer in the 4th quarter valued at about $1,368,000. 38.22% of the stock is owned by hedge funds and other 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.