Energy Transfer (NYSE:ET) Trading Down 1.3% – Here’s Why

Energy Transfer LP (NYSE:ET) traded down 1.3% on Thursday . The stock traded as low as $18.76 and last traded at $18.8020. 9,577,555 shares traded hands during trading, a decline of 37% from the average session volume of 15,172,080 shares. The stock had previously closed at $19.04.

Analyst Upgrades and Downgrades

ET has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Energy Transfer in a report on Friday, June 5th. Raymond James Financial reissued a “strong-buy” rating on shares of Energy Transfer in a report on Wednesday, May 6th. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Stifel Nicolaus boosted their price target on Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Citigroup reiterated a “buy” rating and issued a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $23.45.

Energy Transfer Stock Down 1.3%

The firm has a market capitalization of $64.70 billion, a PE ratio of 15.67, a P/E/G ratio of 1.10 and a beta of 0.55. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93. The company has a 50-day moving average price of $19.45 and a 200 day moving average price of $18.32.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.05). Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The business had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $25.78 billion. During the same quarter in the prior year, the business posted $0.36 EPS. The business’s revenue for the quarter was up 32.1% compared to the same quarter last year. Analysts forecast that Energy Transfer LP will post 1.43 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were given a dividend of $0.3375 per share. The ex-dividend date was Friday, May 8th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a dividend yield of 7.2%. Energy Transfer’s dividend payout ratio (DPR) is 112.50%.

Hedge Funds Weigh In On Energy Transfer

Several hedge funds have recently modified their holdings of ET. North Star Investment Management Corp. lifted its holdings in shares of Energy Transfer by 100.1% in the 4th quarter. North Star Investment Management Corp. now owns 161,523 shares of the pipeline company’s stock worth $2,664,000 after acquiring an additional 80,786 shares during the last quarter. Texas Yale Capital Corp. grew its holdings in Energy Transfer by 6.1% during the 4th quarter. Texas Yale Capital Corp. now owns 1,311,965 shares of the pipeline company’s stock valued at $21,634,000 after purchasing an additional 75,700 shares during the last quarter. Avior Wealth Management LLC raised its position in Energy Transfer by 436.6% in the 4th quarter. Avior Wealth Management LLC now owns 90,160 shares of the pipeline company’s stock worth $1,487,000 after purchasing an additional 73,359 shares during the period. Chase Investment Counsel Corp lifted its stake in Energy Transfer by 277.6% in the third quarter. Chase Investment Counsel Corp now owns 219,083 shares of the pipeline company’s stock worth $3,759,000 after purchasing an additional 161,067 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Energy Transfer by 2.6% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,898,420 shares of the pipeline company’s stock valued at $375,777,000 after buying an additional 544,944 shares during the last quarter. Hedge funds and other 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.