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

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

Wall Street Analyst Weigh In

ET has been the topic of several analyst reports. Barclays reiterated an “overweight” rating and set a $22.00 price target (down from $25.00) on shares of Energy Transfer in a research note on Monday, January 12th. JPMorgan Chase & Co. cut their price target on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Monday, November 24th. Scotiabank restated an “outperform” rating on shares of Energy Transfer in a research report on Friday, January 16th. Royal Bank Of Canada raised Energy Transfer to a “moderate buy” rating in a research report on Monday, December 15th. Finally, TD Cowen increased their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and an average price target of $21.20.

Energy Transfer Stock Down 1.3%

The firm has a market capitalization of $64.88 billion, a PE ratio of 15.59, a P/E/G ratio of 0.97 and a beta of 0.63. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.22 and a quick ratio of 0.90. The company has a 50-day moving average price of $17.73 and a 200 day moving average price of $17.22.

Energy Transfer (NYSE:ET) last posted 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). Energy Transfer had a return on equity of 10.17% and a net margin of 5.11%.The business had revenue of $25.32 billion during the quarter, compared to analysts’ expectations of $23.56 billion. During the same period in the prior year, the firm posted $0.29 earnings per share. The firm’s revenue for the quarter was up 29.6% on a year-over-year basis. Analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Friday, February 6th were issued a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 7.1%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, February 6th. Energy Transfer’s payout ratio is presently 110.74%.

Institutional Trading of Energy Transfer

A number of institutional investors and hedge funds have recently bought and sold shares of ET. Lee Financial Co lifted its holdings in 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 acquiring an additional 151,657 shares during the period. Eagle Global Advisors LLC lifted its stake in shares of 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 purchasing an additional 363,623 shares during the period. Corient Private Wealth LLC lifted its stake in shares of 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 purchasing an additional 1,168,440 shares during the period. Jump Financial LLC boosted its stake in shares of 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 worth $32,477,000 after acquiring an additional 1,727,104 shares in the last quarter. Finally, Maryland State Retirement & Pension System grew its position in shares of 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 valued at $50,235,000 after acquiring an additional 144,037 shares during the period. 38.22% of the stock is currently owned by institutional investors.

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.