Energy Transfer (NYSE:ET) Trading Down 0.3% - Time to Sell?

Energy Transfer LP (NYSE:ET - Get Free Report) shares traded down 0.3% on Tuesday . The stock traded as low as $16.13 and last traded at $16.14. 5,521,307 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 15,345,780 shares. The stock had previously closed at $16.19.

Wall Street Analyst Weigh In

ET has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. UBS Group reissued a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. Wells Fargo & Company reduced their price target on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a report on Wednesday. Citigroup reiterated a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $23.00 price target on shares of Energy Transfer in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $22.09.

Energy Transfer Stock Up 2.5 %

The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The business's fifty day moving average price is $17.52 and its 200 day moving average price is $18.48. The firm has a market capitalization of $59.39 billion, a PE ratio of 13.52, a PEG ratio of 0.64 and a beta of 0.77.

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

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th will be issued a $0.3275 dividend. This represents a $1.31 dividend on an annualized basis and a yield of 7.57%. The ex-dividend date of this dividend is Friday, May 9th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is currently 102.34%.

Institutional Investors Weigh In On Energy Transfer

Several institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in shares of Energy Transfer by 4.2% in the third quarter. Geode Capital Management LLC now owns 126,331 shares of the pipeline company's stock valued at $2,028,000 after buying an additional 5,127 shares in the last quarter. GAMMA Investing LLC purchased a new stake in Energy Transfer in the 4th quarter valued at approximately $29,000. CWA Asset Management Group LLC increased its position in Energy Transfer by 99.6% during the fourth quarter. CWA Asset Management Group LLC now owns 46,598 shares of the pipeline company's stock worth $913,000 after buying an additional 23,249 shares in the last quarter. Private Client Services LLC raised its holdings 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 during the last quarter. Finally, Watts Gwilliam & Co. LLC purchased a new stake in shares of Energy Transfer in the fourth quarter valued at $1,297,000. 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.