Energy Transfer (NYSE:ET) Stock Price Down 1% – Should You Sell?

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ET shares. Citigroup boosted their price objective on Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Royal Bank of Canada lifted their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. The Goldman Sachs Group increased their price objective on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Barclays boosted their target price 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, UBS Group reissued a “buy” rating on shares of Energy Transfer in a report on Tuesday. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $21.55.

Energy Transfer Stock Down 2.5 %

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 business’s fifty day moving average price is $19.87 and its 200 day moving average price is $18.08. The company has a market capitalization of $60.89 billion, a P/E ratio of 13.86, a P/E/G ratio of 0.64 and a beta of 1.69.

Energy Transfer (NYSE:ET) last released its quarterly earnings data 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 net margin of 5.74% and a return on equity of 11.56%. As a group, equities research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid a dividend of $0.325 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a yield of 7.33%. The ex-dividend date was Friday, February 7th. Energy Transfer’s dividend payout ratio is currently 101.56%.

Institutional Investors Weigh In On Energy Transfer

Institutional investors and hedge funds have recently made changes to their positions in the company. Stonegate Investment Group LLC lifted its holdings in Energy Transfer by 1.4% during the 4th quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock valued at $672,000 after purchasing an additional 482 shares during the last quarter. Private Client Services LLC increased its holdings in shares of Energy Transfer by 3.1% during the fourth quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock worth $331,000 after buying an additional 511 shares in the last quarter. United Advisor Group LLC raised its stake in shares of Energy Transfer by 3.0% in the fourth quarter. United Advisor Group LLC now owns 18,540 shares of the pipeline company’s stock valued at $363,000 after acquiring an additional 534 shares during the last quarter. Wealthspire Advisors LLC boosted its holdings in shares of Energy Transfer by 0.4% in the 4th quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock worth $2,551,000 after acquiring an additional 535 shares in the last quarter. Finally, Cannell & Spears LLC grew its position in Energy Transfer by 0.4% during the 4th quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company’s stock worth $2,657,000 after acquiring an additional 546 shares during the last quarter. 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.