Energy Transfer (NYSE:ET) Stock Price Down 0.5% – Here’s Why

Energy Transfer LP (NYSE:ET)’s stock price fell 0.5% during trading on Tuesday . The stock traded as low as $19.80 and last traded at $19.99. 3,612,641 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 17,078,346 shares. The stock had previously closed at $20.09.

Analysts Set New Price Targets

ET has been the topic of a number of recent analyst reports. Barclays lifted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Bank of America began coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective on the stock. The Goldman Sachs Group increased their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Wells Fargo & Company lifted their price target 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. Finally, Royal Bank of Canada increased their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and an average target price of $20.82.

Energy Transfer Trading Down 1.0 %

The firm’s fifty day simple moving average is $19.72 and its 200-day simple moving average is $17.68. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The stock has a market cap of $68.08 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 0.52 and a beta of 1.69.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be given a dividend of $0.325 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a yield of 6.54%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is 94.85%.

Institutional Trading of Energy Transfer

Large investors have recently modified their holdings of the stock. Princeton Global Asset Management LLC increased its position in shares of Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 650 shares in the last quarter. Assetmark Inc. raised its stake in shares of Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Energy Transfer in the fourth quarter valued at approximately $29,000. United Community Bank bought a new stake in Energy Transfer during the fourth quarter worth $35,000. Finally, Financial Life Planners bought a new position in Energy Transfer during the 4th quarter valued at $37,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

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.