Energy Transfer (NYSE:ET) Stock Price Down 0.8% – What’s Next?

Energy Transfer LP (NYSE:ET) shares dropped 0.8% during trading on Monday . The company traded as low as $18.86 and last traded at $18.89. Approximately 2,785,968 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 13,618,896 shares. The stock had previously closed at $19.04.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. UBS Group raised their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Royal Bank of Canada raised their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, Bank of America initiated coverage on Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective for the company. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $20.38.

Energy Transfer Trading Down 0.4 %

The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $63.79 billion, a P/E ratio of 13.70, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70. The business has a fifty day moving average price of $17.68 and a 200 day moving average price of $16.59.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.31 EPS. On average, analysts expect that Energy Transfer LP will post 1.32 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a yield of 6.92%. The ex-dividend date was Friday, November 8th. Energy Transfer’s payout ratio is 94.85%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. First Citizens Bank & Trust Co. acquired a new stake in Energy Transfer in the 2nd quarter valued at about $185,000. KG&L Capital Management LLC bought a new position in shares of Energy Transfer during the 2nd quarter worth approximately $252,000. Busey Bank increased its holdings in shares of Energy Transfer by 15.1% during the 2nd quarter. Busey Bank now owns 14,506 shares of the pipeline company’s stock worth $235,000 after acquiring an additional 1,906 shares during the last quarter. &PARTNERS raised its stake in Energy Transfer by 215.9% in the 2nd quarter. &PARTNERS now owns 32,011 shares of the pipeline company’s stock valued at $519,000 after acquiring an additional 21,879 shares during the period. Finally, Avalon Capital Management lifted its holdings in Energy Transfer by 2.1% during the 2nd quarter. Avalon Capital Management now owns 77,121 shares of the pipeline company’s stock valued at $1,251,000 after purchasing an additional 1,622 shares during the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

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.