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

Energy Transfer LP (NYSE:ET)’s stock price dropped 0.4% during mid-day trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $19.26 and last traded at $19.73. Approximately 6,350,670 shares changed hands during trading, a decline of 63% from the average daily volume of 17,122,715 shares. The stock had previously closed at $19.81.

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

Energy Transfer Increases Dividend

The firm also recently announced 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 an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 6.54%. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Royal Bank of Canada boosted their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. The Goldman Sachs Group upped their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Barclays upped their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, Stifel Nicolaus upped their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.18.

Institutional Investors Weigh In On Energy Transfer

A number of institutional investors have recently added to or reduced their stakes in ET. Stonegate Investment Group LLC increased its position in Energy Transfer by 1.4% during the fourth quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock valued at $672,000 after acquiring an additional 482 shares during the last quarter. Private Client Services LLC increased its position in Energy Transfer by 3.1% during the fourth quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock valued at $331,000 after acquiring an additional 511 shares during the last quarter. Wealthspire Advisors LLC boosted its stake in shares of Energy Transfer by 0.4% during the fourth quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock valued at $2,551,000 after purchasing an additional 535 shares during the period. Daymark Wealth Partners LLC boosted its stake in shares of Energy Transfer by 0.3% during the fourth quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock valued at $3,148,000 after purchasing an additional 547 shares during the period. Finally, Platform Technology Partners boosted its stake in shares of Energy Transfer by 0.8% during the fourth quarter. Platform Technology Partners now owns 67,299 shares of the pipeline company’s stock valued at $1,318,000 after purchasing an additional 553 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

The stock has a market capitalization of $68.02 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 0.52 and a beta of 1.69. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The stock’s 50 day moving average price is $19.73 and its 200-day moving average price is $17.71.

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.