By otakuyassine3@gmail.com 
Energy Transfer LP (NYSE:ET – Get Free Report) dropped 1.4% on Thursday . The company traded as low as $19.28 and last traded at $19.33. Approximately 1,928,797 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 13,678,332 shares. The stock had previously closed at $19.60.
Analyst Upgrades and Downgrades
ET has been the subject of several analyst reports. UBS Group upped their price objective on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Barclays upped their price target on Energy Transfer from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Bank of America began coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective on the stock. Royal Bank of Canada upped their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, Wells Fargo & Company lifted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.55.
Read Our Latest Stock Report on ET
Energy Transfer Price Performance
The stock has a market capitalization of $66.18 billion, a PE ratio of 14.21, a P/E/G ratio of 0.63 and a beta of 1.70. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The stock’s 50-day moving average is $17.98 and its 200 day moving average is $16.73.
Energy Transfer (NYSE:ET – Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $0.31 earnings per share. As a group, equities analysts predict that Energy Transfer LP will post 1.32 earnings per share for the current year.
Energy Transfer Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a $0.3225 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.67%. Energy Transfer’s payout ratio is 94.85%.
Hedge Funds Weigh In On Energy Transfer
A number of hedge funds and other institutional investors have recently made changes to their positions in ET. FFG Partners LLC raised its stake in shares of Energy Transfer by 3.3% in the third quarter. FFG Partners LLC now owns 1,636,626 shares of the pipeline company’s stock worth $26,268,000 after acquiring an additional 52,302 shares during the last quarter. Fidelity D & D Bancorp Inc. bought a new stake in Energy Transfer during the 3rd quarter worth about $1,207,000. Peapack Gladstone Financial Corp boosted its stake in shares of Energy Transfer by 6.8% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 15,675 shares of the pipeline company’s stock valued at $251,000 after purchasing an additional 1,000 shares during the last quarter. Synovus Financial Corp grew its position in shares of Energy Transfer by 69.8% during the 3rd quarter. Synovus Financial Corp now owns 84,530 shares of the pipeline company’s stock worth $1,357,000 after buying an additional 34,749 shares during the period. Finally, Tidal Investments LLC raised its stake in shares of Energy Transfer by 1.2% during the third quarter. Tidal Investments LLC now owns 101,738 shares of the pipeline company’s stock worth $1,633,000 after buying an additional 1,248 shares during the last quarter. 38.22% of the stock is owned by institutional investors.
About Energy Transfer
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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