Energy Transfer (NYSE:ET) Trading Down 1.1% – Time to Sell?

Shares of Energy Transfer LP (NYSE:ET) traded down 1.1% during trading on Friday . The stock traded as low as $18.98 and last traded at $18.99. 2,750,684 shares were traded during trading, a decline of 80% from the average session volume of 13,630,396 shares. The stock had previously closed at $19.21.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. UBS Group boosted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Bank of America assumed coverage on Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target on the stock. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $20.38.

Energy Transfer Stock 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 firm has a market capitalization of $65.19 billion, a price-to-earnings ratio of 14.00, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70. The firm’s 50-day moving average price is $17.58 and its two-hundred day moving average price is $16.54.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts predict that Energy Transfer LP will post 1.32 earnings per share for the current year.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.78%. Energy Transfer’s dividend payout ratio is 94.85%.

Institutional Investors Weigh In On Energy Transfer

A number of hedge funds have recently added to or reduced their stakes in ET. Fortis Capital Management LLC grew its stake in shares of Energy Transfer by 2.0% during the third quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock valued at $513,000 after purchasing an additional 634 shares during the last quarter. Princeton Global Asset Management LLC boosted its position in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after buying an additional 650 shares during the last quarter. Veracity Capital LLC increased its stake in shares of Energy Transfer by 2.0% in the 2nd quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock valued at $545,000 after buying an additional 659 shares during the period. Haverford Trust Co raised its position in shares of Energy Transfer by 0.7% during the third quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company’s stock worth $1,640,000 after acquiring an additional 675 shares during the last quarter. Finally, Rockwood Wealth Management LLC lifted its stake in shares of Energy Transfer by 0.5% during the second quarter. Rockwood Wealth Management LLC now owns 128,122 shares of the pipeline company’s stock valued at $2,078,000 after acquiring an additional 700 shares during the period. Institutional investors 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.