Energy Transfer (NYSE:ET) Trading Down 1% – Time to Sell?

Energy Transfer LP (NYSE:ET)’s stock price fell 1% on Thursday . The company traded as low as $17.36 and last traded at $18.01. 10,977,815 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 17,185,857 shares. The stock had previously closed at $18.20.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. 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 report on Wednesday, February 12th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research report on Tuesday. Barclays raised their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Citigroup upped their price objective on Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Finally, Wells Fargo & Company raised their price target on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.55.

Energy Transfer Stock Down 2.5 %

The business’s 50-day moving average is $19.87 and its two-hundred day moving average is $18.08. The firm has a market capitalization of $60.89 billion, a price-to-earnings ratio of 13.86, a P/E/G ratio of 0.64 and a beta of 1.69. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, February 11th. 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 return on equity of 11.56% and a net margin of 5.74%. On average, equities analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current 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 7.33%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer’s payout ratio is presently 101.56%.

Institutional Investors Weigh In On Energy Transfer

A number of hedge funds have recently modified their holdings of ET. US Bancorp DE raised its holdings in Energy Transfer by 3.4% during the 3rd quarter. US Bancorp DE now owns 143,800 shares of the pipeline company’s stock worth $2,308,000 after buying an additional 4,723 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Energy Transfer by 1,884.9% during the third quarter. Farther Finance Advisors LLC now owns 33,544 shares of the pipeline company’s stock worth $538,000 after acquiring an additional 31,854 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Energy Transfer by 4.2% during the third quarter. Janney Montgomery Scott LLC now owns 542,167 shares of the pipeline company’s stock worth $8,702,000 after acquiring an additional 21,929 shares during the period. Van ECK Associates Corp lifted its position in Energy Transfer by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 156,016 shares of the pipeline company’s stock valued at $2,556,000 after acquiring an additional 17,080 shares in the last quarter. Finally, Crescent Grove Advisors LLC boosted its stake in Energy Transfer by 4.9% in the 3rd quarter. Crescent Grove Advisors LLC now owns 361,762 shares of the pipeline company’s stock worth $5,806,000 after purchasing an additional 16,856 shares during the period. Institutional investors and hedge funds 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.