Energy Transfer (NYSE:ET) Shares Down 0.2% – Should You Sell?

Energy Transfer LP (NYSE:ET) shares dropped 0.2% during mid-day trading on Tuesday . The company traded as low as $19.51 and last traded at $19.58. Approximately 2,578,058 shares were traded during trading, a decline of 81% from the average daily volume of 13,322,961 shares. The stock had previously closed at $19.62.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Barclays increased their price target on shares of Energy Transfer from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Royal Bank of Canada boosted their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a 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 note on Thursday, December 19th. UBS Group boosted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Wells Fargo & Company raised their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. One equities research 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $20.55.

Energy Transfer Trading Down 0.7 %

The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The business’s 50-day simple moving average is $18.48 and its two-hundred day simple moving average is $16.96. The stock has a market capitalization of $66.70 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 0.63 and a beta of 1.70.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $21.59 billion. During the same period in the prior year, the company earned $0.31 EPS. The firm’s revenue was up .2% on a year-over-year basis. On average, research analysts anticipate that Energy Transfer LP will post 1.32 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.62%. Energy Transfer’s dividend payout ratio is currently 94.85%.

Institutional Trading of Energy Transfer

Several large investors have recently modified their holdings of the business. Fortis Capital Management LLC increased its position in shares of Energy Transfer by 2.0% in the 3rd quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock worth $513,000 after purchasing an additional 634 shares during the last quarter. Princeton Global Asset Management LLC increased its holdings in Energy Transfer by 65.0% in the third 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. Haverford Trust Co lifted its holdings in Energy Transfer by 0.7% during the 3rd quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company’s stock worth $1,640,000 after buying an additional 675 shares during the last quarter. Veracity Capital LLC grew its position in shares of Energy Transfer by 2.0% in the 3rd quarter. Veracity Capital LLC now owns 34,255 shares of the pipeline company’s stock worth $550,000 after acquiring an additional 680 shares in the last quarter. Finally, Fidelis Capital Partners LLC raised its position in shares of Energy Transfer by 2.3% during the 3rd quarter. Fidelis Capital Partners LLC now owns 31,858 shares of the pipeline company’s stock valued at $522,000 after acquiring an additional 709 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

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.