Energy Transfer (NYSE:ET) Stock Price Down 1.5% – Here’s What Happened
by Scott Moore · The Cerbat GemEnergy Transfer LP (NYSE:ET – Get Free Report)’s share price fell 1.5% on Friday . The stock traded as low as $17.71 and last traded at $17.92. 18,088,678 shares were traded during mid-day trading, an increase of 11% from the average session volume of 16,331,998 shares. The stock had previously closed at $18.19.
Analyst Upgrades and Downgrades
Several research firms have commented on ET. Jefferies Financial Group set a $17.00 target price on Energy Transfer and gave the stock a “hold” rating in a report on Tuesday, October 28th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Wednesday, January 7th. Royal Bank Of Canada raised shares of Energy Transfer to a “moderate buy” rating in a research report on Monday, December 15th. Barclays reaffirmed an “overweight” rating and issued a $22.00 target price (down from $25.00) on shares of Energy Transfer in a report on Monday, January 12th. Finally, Morgan Stanley cut their price target on shares of Energy Transfer from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Tuesday, December 2nd. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $21.50.
Read Our Latest Stock Analysis on Energy Transfer
Energy Transfer Stock Performance
The business has a 50-day moving average of $17.03 and a 200 day moving average of $17.11. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.41 and a quick ratio of 1.14. The company has a market cap of $61.53 billion, a PE ratio of 14.34, a PEG ratio of 0.95 and a beta of 0.66.
Energy Transfer (NYSE:ET – Get Free Report) last announced its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.06). Energy Transfer had a return on equity of 10.71% and a net margin of 5.66%.The firm had revenue of $19.95 billion during the quarter, compared to analysts’ expectations of $21.84 billion. During the same period in the previous year, the business posted $0.32 earnings per share. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. Equities research analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.
Energy Transfer Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Friday, February 6th will be issued a dividend of $0.335 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.34 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date of this dividend is Friday, February 6th. Energy Transfer’s dividend payout ratio is currently 106.40%.
Insiders Place Their Bets
In other Energy Transfer news, Director Kelcy L. Warren purchased 1,000,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were acquired at an average price of $16.95 per share, for a total transaction of $16,950,000.00. Following the purchase, the director directly owned 104,577,803 shares of the company’s stock, valued at $1,772,593,760.85. The trade was a 0.97% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.28% of the company’s stock.
Hedge Funds Weigh In On Energy Transfer
A number of institutional investors have recently bought and sold shares of the stock. Advisory Alpha LLC bought a new position in shares of Energy Transfer in the fourth quarter worth about $221,000. Axxcess Wealth Management LLC increased its holdings in Energy Transfer by 7.7% in the 4th quarter. Axxcess Wealth Management LLC now owns 18,482 shares of the pipeline company’s stock worth $305,000 after acquiring an additional 1,315 shares in the last quarter. Texas Bank & Trust Co raised its stake in Energy Transfer by 0.6% during the 4th quarter. Texas Bank & Trust Co now owns 155,958 shares of the pipeline company’s stock worth $2,572,000 after acquiring an additional 960 shares during the period. Intellus Advisors LLC lifted its holdings in Energy Transfer by 19.0% during the fourth quarter. Intellus Advisors LLC now owns 118,767 shares of the pipeline company’s stock valued at $1,958,000 after purchasing an additional 18,965 shares in the last quarter. Finally, FourThought Financial Partners LLC lifted its holdings in Energy Transfer by 14.8% during the fourth quarter. FourThought Financial Partners LLC now owns 97,600 shares of the pipeline company’s stock valued at $1,609,000 after purchasing an additional 12,614 shares in the last quarter. 38.22% of the stock is 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.