Energy Transfer (NYSE:ET) Stock Price Down 1.7% - Time to Sell?

Shares of Energy Transfer LP (NYSE:ET - Get Free Report) dropped 1.7% during mid-day trading on Tuesday . The company traded as low as $17.83 and last traded at $17.83. Approximately 3,876,340 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 15,708,275 shares. The stock had previously closed at $18.13.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ET shares. Morgan Stanley lifted their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Mizuho boosted their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 20th. Citigroup reaffirmed a "buy" rating on shares of Energy Transfer in a research note on Monday, March 24th. UBS Group reiterated a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $23.00 target price on shares of Energy Transfer in a report on Tuesday, March 25th. One 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.com, Energy Transfer presently has an average rating of "Moderate Buy" and a consensus price target of $22.64.

Energy Transfer Stock Down 1.4%

The company has a debt-to-equity ratio of 1.41, a current ratio of 1.12 and a quick ratio of 0.92. The stock has a market capitalization of $61.35 billion, a P/E ratio of 13.55, a PEG ratio of 0.59 and a beta of 0.78. The stock's fifty day moving average is $17.61 and its two-hundred day moving average is $18.49.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. The business had revenue of $21.02 billion during the quarter, compared to analyst estimates of $22.28 billion. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. The company's revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company posted $0.32 EPS. As a group, research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were issued a dividend of $0.3275 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.31 dividend on an annualized basis and a dividend yield of 7.33%. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is currently 99.24%.

Insider Activity at Energy Transfer

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of Energy Transfer stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $18.48, for a total transaction of $25,299.12. Following the transaction, the director directly owned 24,523 shares in the company, valued at approximately $453,185.04. The trade was a 5.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.28% of the company's stock.

Institutional Trading of Energy Transfer

Hedge funds and other institutional investors have recently modified their holdings of the business. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Energy Transfer during the fourth quarter worth approximately $25,000. Capital A Wealth Management LLC acquired a new position in Energy Transfer in the 4th quarter valued at approximately $26,000. Fourth Dimension Wealth LLC purchased a new stake in Energy Transfer in the 4th quarter worth approximately $29,000. United Community Bank acquired a new stake in shares of Energy Transfer during the 4th quarter valued at $35,000. Finally, Vision Financial Markets LLC acquired a new stake in shares of Energy Transfer during the 1st quarter valued at $33,000. 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.

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