Energy Transfer (NYSE:ET) Trading Down 1.3% – What’s Next?

Energy Transfer LP (NYSE:ET)’s stock price fell 1.3% on Tuesday . The company traded as low as $18.78 and last traded at $18.86. 17,241,992 shares traded hands during mid-day trading, an increase of 7% from the average session volume of 16,048,997 shares. The stock had previously closed at $19.10.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ET. JPMorgan Chase & Co. lowered their price target on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Monday, November 24th. Morgan Stanley decreased their target price on shares of Energy Transfer from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Tuesday, December 2nd. TD Cowen boosted their price target on Energy Transfer from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a research note on Friday, January 16th. Finally, Royal Bank Of Canada raised Energy Transfer to a “moderate buy” rating in a report on Monday, December 15th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $21.20.

Energy Transfer Trading Down 1.3%

The firm has a market cap of $64.88 billion, a P/E ratio of 15.59, a price-to-earnings-growth ratio of 0.97 and a beta of 0.63. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.90 and a current ratio of 1.22. The stock has a fifty day simple moving average of $17.73 and a 200 day simple moving average of $17.22.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Tuesday, February 17th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.09). The business had revenue of $25.32 billion for the quarter, compared to analysts’ expectations of $23.56 billion. Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. The company’s quarterly revenue was up 29.6% on a year-over-year basis. During the same period last year, the business earned $0.29 earnings per share. On average, research analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Friday, February 6th were given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 7.1%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, February 6th. Energy Transfer’s payout ratio is currently 110.74%.

Institutional Investors Weigh In On Energy Transfer

A number of hedge funds have recently added to or reduced their stakes in ET. Basepoint Wealth LLC bought a new stake in shares of Energy Transfer in the fourth quarter worth $25,000. Gables Capital Management Inc. boosted its position in Energy Transfer by 60.0% in the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 600 shares during the last quarter. Sarver Vrooman Wealth Advisors purchased a new position in Energy Transfer in the fourth quarter worth about $32,000. Financial Life Planners bought a new stake in shares of Energy Transfer during the 3rd quarter valued at about $34,000. Finally, Navalign LLC purchased a new stake in shares of Energy Transfer during the 4th quarter valued at about $37,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

About Energy Transfer

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.