Energy Transfer (NYSE:ET) Stock Price Down 0.4% Following Weak Earnings

Shares of Energy Transfer LP (NYSE:ET) fell 0.4% on Wednesday following a dissappointing earnings announcement. The company traded as low as $19.26 and last traded at $19.73. 6,350,670 shares were traded during trading, a decline of 63% from the average session volume of 17,122,715 shares. The stock had previously closed at $19.81.

The pipeline company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be paid a $0.325 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 6.55%. Energy Transfer’s dividend payout ratio (DPR) is presently 101.56%.

Analysts Set New Price Targets

ET has been the topic of several recent analyst reports. Stifel Nicolaus lifted their price target on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays raised their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Wells Fargo & Company raised their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. The Goldman Sachs Group raised their price objective on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Finally, Royal Bank of Canada raised their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.18.

Institutional Trading of Energy Transfer

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ET. Wesbanco Bank Inc. boosted its stake in shares of Energy Transfer by 48.9% in the 3rd quarter. Wesbanco Bank Inc. now owns 36,521 shares of the pipeline company’s stock worth $586,000 after buying an additional 12,000 shares during the last quarter. Creative Planning boosted its stake in shares of Energy Transfer by 16.9% in the 3rd quarter. Creative Planning now owns 796,099 shares of the pipeline company’s stock worth $12,777,000 after buying an additional 115,081 shares during the last quarter. Alliance Wealth Advisors LLC purchased a new position in shares of Energy Transfer in the 3rd quarter worth approximately $395,000. Good Life Advisors LLC boosted its stake in shares of Energy Transfer by 4.0% in the 3rd quarter. Good Life Advisors LLC now owns 28,723 shares of the pipeline company’s stock worth $461,000 after buying an additional 1,092 shares during the last quarter. Finally, Secure Asset Management LLC purchased a new position in shares of Energy Transfer in the 3rd quarter worth approximately $227,000. 38.22% of the stock is owned by institutional investors.

Energy Transfer Price Performance

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 business has a 50 day moving average price of $19.75 and a two-hundred day moving average price of $17.72. The stock has a market cap of $67.91 billion, a PE ratio of 14.58, a P/E/G ratio of 0.52 and a beta of 1.69.

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.