Energy Transfer (NYSE:ET) Trading Down 1.1% – What’s Next?

Energy Transfer LP (NYSE:ET)’s share price was down 1.1% on Wednesday . The stock traded as low as $20.15 and last traded at $20.1670. Approximately 15,344,604 shares traded hands during mid-day trading, a decline of 5% from the average daily volume of 16,151,581 shares. The stock had previously closed at $20.39.

Analyst Ratings Changes

Several research analysts have recently weighed in on ET shares. Jefferies Financial Group reaffirmed a “hold” rating on shares of Energy Transfer in a report on Wednesday, May 6th. JPMorgan Chase & Co. upped their price target on shares of Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Energy Transfer in a report on Wednesday, May 6th. Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Finally, Citigroup reissued a “buy” rating and issued a $23.00 target price (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $22.73.

Energy Transfer Trading Down 1.1%

The firm’s 50-day simple moving average is $19.26 and its 200-day simple moving average is $18.00. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $69.40 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 1.22 and a beta of 0.57.

Energy Transfer (NYSE:ET) last posted its quarterly 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 net margin of 4.66% and a return on equity of 9.77%. 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 previous year, the company earned $0.36 earnings per share. The business’s quarterly revenue was up 32.1% on a year-over-year basis. Equities analysts expect that Energy Transfer LP will post 1.37 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th will be given a dividend of $0.3375 per share. The ex-dividend date is Friday, May 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a yield of 6.7%. Energy Transfer’s dividend payout ratio (DPR) is currently 112.50%.

Institutional Trading of Energy Transfer

Institutional investors have recently modified their holdings of the company. Basepoint Wealth LLC purchased a new stake in shares of Energy Transfer during the fourth quarter worth about $25,000. Gables Capital Management Inc. boosted its holdings in shares of Energy Transfer by 60.0% during 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 period. Sarver Vrooman Wealth Advisors purchased a new stake in shares of Energy Transfer during the fourth quarter worth about $32,000. Financial Life Planners purchased a new stake in shares of Energy Transfer during the third quarter worth about $34,000. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in shares of Energy Transfer during the first quarter worth about $35,000. 38.22% of the stock is currently owned by hedge funds and other 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.