Energy Transfer (NYSE:ET) Trading Down 1.7% – What’s Next?

Energy Transfer LP (NYSE:ET) fell 1.7% during mid-day trading on Tuesday . The company traded as low as $19.01 and last traded at $19.2480. 19,266,752 shares changed hands during trading, an increase of 23% from the average session volume of 15,714,059 shares. The stock had previously closed at $19.59.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ET shares. Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a research note on Friday, January 16th. Royal Bank Of Canada upgraded shares of Energy Transfer to a “moderate buy” rating in a research note on Monday, December 15th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Energy Transfer in a report on Wednesday, February 18th. Weiss Ratings reissued a “buy (b-)” rating on shares of Energy Transfer in a report on Wednesday, December 24th. Finally, Truist Financial initiated coverage on Energy Transfer in a research report on Tuesday, March 24th. They issued a “buy” rating and a $23.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.60.

Energy Transfer Stock Performance

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 firm has a market capitalization of $66.22 billion, a PE ratio of 15.91, a P/E/G ratio of 1.10 and a beta of 0.63. The company’s fifty day simple moving average is $18.60 and its 200 day simple moving average is $17.42.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, February 17th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.09). The business had revenue of $25.32 billion during the quarter, compared to analysts’ expectations of $23.56 billion. Energy Transfer had a return on equity of 10.17% and a net margin of 5.11%.Energy Transfer’s revenue for the quarter was up 29.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 EPS. As a group, equities research analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Friday, February 6th were paid a $0.335 dividend. The ex-dividend date was Friday, February 6th. This represents a $1.34 dividend on an annualized basis and a yield of 7.0%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio (DPR) is presently 110.74%.

Institutional Investors Weigh In On Energy Transfer

Several institutional investors have recently made changes to their positions in ET. Rockefeller Capital Management L.P. grew its position in shares of Energy Transfer by 14.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,544,553 shares of the pipeline company’s stock valued at $74,940,000 after purchasing an additional 578,137 shares in the last quarter. Fund Advisors of America Inc FL bought a new stake in shares of Energy Transfer during the 4th quarter valued at $948,000. World Investment Advisors lifted its holdings in Energy Transfer by 17.2% during the 4th quarter. World Investment Advisors now owns 114,499 shares of the pipeline company’s stock worth $1,888,000 after purchasing an additional 16,781 shares in the last quarter. Nalls Sherbakoff Group LLC bought a new position in Energy Transfer in the 4th quarter worth about $219,000. Finally, Corient Private Wealth LLC boosted its stake in Energy Transfer by 1.8% in the 4th quarter. Corient Private Wealth LLC now owns 1,880,623 shares of the pipeline company’s stock worth $31,021,000 after purchasing an additional 33,344 shares during the period. 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.