Energy Transfer (NYSE:ET) Shares Down 0.8% – Time to Sell?

Energy Transfer LP (NYSE:ET)’s stock price traded down 0.8% on Friday . The company traded as low as $19.71 and last traded at $19.78. 2,837,932 shares changed hands during trading, a decline of 83% from the average session volume of 16,417,973 shares. The stock had previously closed at $19.94.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Stifel Nicolaus increased 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, February 12th. Wells Fargo & Company upped their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group upped their price objective 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 objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Royal Bank of Canada upped their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $21.50.

Energy Transfer Price Performance

The stock’s fifty day moving average price is $19.87 and its 200-day moving average price is $17.91. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The firm has a market cap of $66.55 billion, a PE ratio of 15.15, a P/E/G ratio of 0.64 and a beta of 1.69.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. As a group, equities analysts forecast 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 issued a dividend of $0.325 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a yield of 6.70%. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is 101.56%.

Hedge Funds Weigh In On Energy Transfer

Hedge funds have recently added to or reduced their stakes in the business. Mountain Hill Investment Partners Corp. purchased a new position in Energy Transfer during the 4th quarter valued at about $25,000. Princeton Global Asset Management LLC increased its holdings in Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 650 shares in the last quarter. Assetmark Inc. increased its holdings in Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 1,668 shares in the last quarter. GAMMA Investing LLC purchased a new position in Energy Transfer during the 4th quarter valued at about $29,000. Finally, Fourth Dimension Wealth LLC purchased a new position in Energy Transfer during the 4th quarter valued at about $29,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

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.