Energy Transfer (NYSE:ET) Trading Down 2.8% – Should You Sell?

Energy Transfer LP (NYSE:ET)’s stock price fell 2.8% during trading on Thursday . The stock traded as low as $15.93 and last traded at $16.21. 5,508,990 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 15,161,495 shares. The stock had previously closed at $16.67.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Citigroup restated a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. Wells Fargo & Company boosted 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. Morgan Stanley increased their target price on shares of Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $23.00 price target on shares of Energy Transfer in a research report on Tuesday, March 25th. Finally, The Goldman Sachs Group raised their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Energy Transfer currently has an average rating of “Moderate Buy” and a consensus price target of $22.09.

Energy Transfer Price Performance

The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The stock has a fifty day simple moving average of $18.55 and a two-hundred day simple moving average of $18.42. The company has a market cap of $55.33 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 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%. On average, equities analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 8.06%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. Energy Transfer’s payout ratio is presently 101.56%.

Institutional Investors Weigh In On Energy Transfer

A number of large investors 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 fourth quarter worth $25,000. Capital A Wealth Management LLC purchased a new stake in Energy Transfer during the 4th quarter worth about $26,000. GAMMA Investing LLC purchased a new stake in Energy Transfer during the 4th quarter worth about $29,000. Fourth Dimension Wealth LLC acquired a new position in Energy Transfer in the 4th quarter valued at about $29,000. Finally, United Community Bank purchased a new position in Energy Transfer in the 4th quarter valued at about $35,000. 38.22% of the stock is owned by institutional investors and hedge funds.

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.