Energy Transfer (NYSE:ET) Shares Down 0.7%

Energy Transfer LP (NYSE:ETGet Free Report)’s stock price traded down 0.7% on Tuesday . The stock traded as low as $15.10 and last traded at $15.28. 4,734,874 shares traded hands during trading, a decline of 61% from the average session volume of 12,118,703 shares. The stock had previously closed at $15.38.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ET. Citigroup boosted their price target on shares of Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Mizuho reiterated a “buy” rating and set a $19.00 price target (up from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. UBS Group raised their price target on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Finally, Stifel Nicolaus increased their target price on Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, May 9th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.43.

Check Out Our Latest Research Report on ET

Energy Transfer Stock Up 0.1 %

The firm has a 50 day moving average price of $15.73 and a two-hundred day moving average price of $14.77. The firm has a market capitalization of $51.85 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 0.42 and a beta of 1.63. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ETGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The business had revenue of $21.63 billion for the quarter, compared to analyst estimates of $20.91 billion. During the same period last year, the firm earned $0.32 earnings per share. The company’s quarterly revenue was up 13.9% on a year-over-year basis. On average, equities analysts expect that Energy Transfer LP will post 1.45 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were issued a dividend of $0.317 per share. This represents a $1.27 dividend on an annualized basis and a yield of 8.24%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, May 10th. Energy Transfer’s dividend payout ratio (DPR) is presently 116.51%.

Institutional Trading of Energy Transfer

Large investors have recently modified their holdings of the business. First Reserve GP XIII Ltd acquired a new stake in Energy Transfer during the 4th quarter valued at approximately $322,097,000. Alps Advisors Inc. grew its position in shares of Energy Transfer by 14.5% during the third quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock worth $1,033,541,000 after buying an additional 9,341,798 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Energy Transfer by 38.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock worth $353,576,000 after buying an additional 7,097,074 shares during the last quarter. Clearbridge Investments LLC raised its holdings in Energy Transfer by 18.5% in the fourth quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock valued at $350,845,000 after acquiring an additional 3,976,676 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Energy Transfer by 1,447.6% during the 4th quarter. International Assets Investment Management LLC now owns 3,756,955 shares of the pipeline company’s stock valued at $518,460,000 after acquiring an additional 3,514,195 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

About Energy Transfer

(Get Free Report)

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.

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