Energy Transfer (NYSE:ET) Hits New 1-Year Low – Here’s What Happened

Energy Transfer LP (NYSE:ET) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $14.60 and last traded at $14.93, with a volume of 10066265 shares traded. The stock had previously closed at $16.16.

Wall Street Analyst Weigh In

A number of brokerages have commented on ET. Royal Bank of Canada reissued an “outperform” rating and set a $23.00 price objective on shares of Energy Transfer in a report on Tuesday, March 25th. Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. Wells Fargo & Company lifted their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Stifel Nicolaus boosted their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.09.

Energy Transfer Stock Down 2.6 %

The firm has a market cap of $53.03 billion, a P/E ratio of 12.07, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32. The firm’s 50 day moving average is $18.90 and its two-hundred day moving average is $18.43. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. As a group, 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 was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 8.41%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. Energy Transfer’s payout ratio is presently 101.56%.

Institutional Investors Weigh In On Energy Transfer

Hedge funds have recently modified their holdings of the business. Mountain Hill Investment Partners Corp. bought a new stake in Energy Transfer during the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC bought a new stake in Energy Transfer in the 4th quarter valued at $26,000. GAMMA Investing LLC acquired a new position in Energy Transfer in the 4th quarter worth $29,000. Fourth Dimension Wealth LLC bought a new position in Energy Transfer during the 4th quarter worth about $29,000. Finally, United Community Bank bought a new stake in shares of Energy Transfer in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Company Profile

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.