Energy Transfer (NYSE:ET) Shares Down 1.5% – Here’s What Happened

Shares of Energy Transfer LP (NYSE:ET) fell 1.5% on Tuesday . The company traded as low as $18.24 and last traded at $18.3050. 14,913,825 shares changed hands during mid-day trading, a decline of 7% from the average session volume of 15,963,073 shares. The stock had previously closed at $18.59.

Analyst Ratings Changes

ET has been the subject of several recent analyst reports. Jefferies Financial Group restated a “hold” rating on shares of Energy Transfer in a research report on Wednesday, February 18th. Barclays reissued an “overweight” rating and set a $22.00 target price (down from $25.00) on shares of Energy Transfer in a research note on Monday, January 12th. UBS Group restated a “buy” rating on shares of Energy Transfer in a research note on Wednesday, January 7th. JPMorgan Chase & Co. decreased their price target on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Monday, November 24th. Finally, Morgan Stanley upped their price objective on shares of Energy Transfer from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.40.

Energy Transfer Stock Performance

The company’s 50-day simple moving average is $18.05 and its 200-day simple moving average is $17.28. The stock has a market capitalization of $64.25 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 0.96 and a beta of 0.63. The company has a current ratio of 1.22, a quick ratio of 0.90 and a debt-to-equity ratio of 1.50.

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

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Friday, February 6th were paid a $0.335 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 7.2%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is currently 110.74%.

Hedge Funds Weigh In On Energy Transfer

Hedge funds have recently bought and sold shares of the company. Lee Financial Co lifted its holdings in shares of Energy Transfer by 359.7% in the third quarter. Lee Financial Co now owns 193,817 shares of the pipeline company’s stock valued at $3,326,000 after purchasing an additional 151,657 shares in the last quarter. Eagle Global Advisors LLC raised its position in Energy Transfer by 6.0% in the 3rd quarter. Eagle Global Advisors LLC now owns 6,466,059 shares of the pipeline company’s stock valued at $110,958,000 after buying an additional 363,623 shares during the last quarter. Corient Private Wealth LLC raised its position in Energy Transfer by 223.7% in the 2nd quarter. Corient Private Wealth LLC now owns 1,690,771 shares of the pipeline company’s stock valued at $30,654,000 after buying an additional 1,168,440 shares during the last quarter. Jump Financial LLC lifted its stake in Energy Transfer by 2,687.9% during the 2nd quarter. Jump Financial LLC now owns 1,791,358 shares of the pipeline company’s stock valued at $32,477,000 after acquiring an additional 1,727,104 shares in the last quarter. Finally, Maryland State Retirement & Pension System boosted its holdings in Energy Transfer by 5.2% during the 3rd quarter. Maryland State Retirement & Pension System now owns 2,927,436 shares of the pipeline company’s stock worth $50,235,000 after acquiring an additional 144,037 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

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.