Energy Transfer (NYSE:ET) Stock Price Down 5.1% – Time to Sell?

Energy Transfer LP (NYSE:ET) shares were down 5.1% on Thursday . The company traded as low as $17.71 and last traded at $17.97. Approximately 13,085,045 shares were traded during mid-day trading, a decline of 10% from the average daily volume of 14,571,718 shares. The stock had previously closed at $18.93.

Wall Street Analysts Forecast Growth

ET has been the subject of a number of research reports. The Goldman Sachs Group boosted their price objective on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Morgan Stanley lifted their target price on shares of Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Wells Fargo & Company raised 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. Finally, Stifel Nicolaus upped their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.09.

Energy Transfer Stock 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’s 50 day moving average is $19.18 and its 200 day moving average is $18.43. The stock has a market capitalization of $55.30 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET) last announced 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, analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared 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 represents a $1.30 dividend on an annualized basis and a dividend yield of 8.07%. The ex-dividend date was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 101.56%.

Hedge Funds Weigh In On Energy Transfer

Several large investors have recently added to or reduced their stakes in the business. Stonegate Investment Group LLC increased its position 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 worth $672,000 after purchasing an additional 482 shares in the last quarter. Private Client Services LLC increased its position in shares of Energy Transfer by 3.1% in the fourth quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock worth $331,000 after acquiring 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 4th 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 period. Wealthspire Advisors LLC lifted its holdings in shares of Energy Transfer by 0.4% during the 4th quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock valued at $2,551,000 after acquiring an additional 535 shares in the last quarter. Finally, Cannell & Spears LLC boosted 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 purchasing an additional 546 shares during the period. 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.