Energy Transfer (NYSE:ET) Trading Down 0.2% - Time to Sell?

Energy Transfer LP (NYSE:ET - Get Free Report) shares were down 0.2% on Friday . The company traded as low as $17.87 and last traded at $17.93. Approximately 2,057,619 shares changed hands during trading, a decline of 87% from the average daily volume of 15,485,941 shares. The stock had previously closed at $17.97.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ET shares. Royal Bank of Canada reissued an "outperform" rating and set a $23.00 price objective on shares of Energy Transfer in a research note on Tuesday, March 25th. Stifel Nicolaus boosted their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. UBS Group restated a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. Wells Fargo & Company decreased their price target on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Finally, Citigroup reiterated a "buy" rating on shares of Energy Transfer in a research note on Monday, March 24th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $22.09.

Energy Transfer Stock Down 0.1%

The stock has a market capitalization of $61.63 billion, a P/E ratio of 14.03, a P/E/G ratio of 0.64 and a beta of 0.77. The firm's fifty day moving average is $17.48 and its 200-day moving average is $18.56. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The firm had revenue of $21.02 billion during the quarter, compared to the consensus estimate of $22.28 billion. During the same period last year, the firm posted $0.32 EPS. The firm's quarterly revenue was down 2.8% on a year-over-year basis. As a group, equities research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th will be paid a $0.3275 dividend. The ex-dividend date of this dividend is Friday, May 9th. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.31 dividend on an annualized basis and a dividend yield of 7.29%. Energy Transfer's payout ratio is currently 99.24%.

Hedge Funds Weigh In On Energy Transfer

Institutional investors have recently modified their holdings of the stock. Mountain Hill Investment Partners Corp. bought a new stake in shares of Energy Transfer in the fourth quarter worth $25,000. Capital A Wealth Management LLC acquired a new position in shares of Energy Transfer in the fourth quarter valued at about $26,000. Fourth Dimension Wealth LLC acquired a new position in shares of Energy Transfer in the fourth quarter valued at about $29,000. United Community Bank acquired a new stake in Energy Transfer during the fourth quarter worth about $35,000. Finally, Vision Financial Markets LLC acquired a new stake in Energy Transfer during the first quarter worth about $33,000. 38.22% of the stock is owned by 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.