Energy Transfer (NYSE:ET) Trading Down 1.8% - Should You Sell?

Energy Transfer LP (NYSE:ET - Get Free Report) was down 1.8% on Monday . The stock traded as low as $16.21 and last traded at $16.37. Approximately 6,032,492 shares changed hands during trading, a decline of 61% from the average daily volume of 15,333,957 shares. The stock had previously closed at $16.67.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ET. Barclays upped their target price on Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. UBS Group reiterated a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $23.00 target price on shares of Energy Transfer in a research report on Tuesday, March 25th. Citigroup reissued a "buy" rating on shares of Energy Transfer in a research note on Monday, March 24th. Finally, Morgan Stanley lifted their price objective on Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $22.09.

Energy Transfer Stock Down 0.9 %

The company has a market cap of $59.09 billion, a price-to-earnings ratio of 13.45, a P/E/G ratio of 0.64 and a beta of 0.77. The stock's 50-day moving average is $17.49 and its 200-day moving average is $18.49. 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 posted 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 business had revenue of $21.02 billion during the quarter, compared to the consensus estimate of $22.28 billion. During the same quarter last year, the firm posted $0.32 EPS. Energy Transfer's revenue was down 2.8% compared to the same quarter last year. On average, analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 9th will be given a $0.3275 dividend. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.31 annualized dividend and a yield of 7.61%. Energy Transfer's dividend payout ratio (DPR) is presently 102.34%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Watts Gwilliam & Co. LLC purchased a new position in Energy Transfer during the 4th quarter worth $1,297,000. Forvis Mazars Wealth Advisors LLC grew its position in Energy Transfer by 164.1% in the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company's stock worth $1,186,000 after purchasing an additional 37,633 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in Energy Transfer by 4.0% in the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company's stock valued at $148,621,000 after buying an additional 293,088 shares during the last quarter. Wedbush Securities Inc. lifted its position in shares of Energy Transfer by 44.2% during the 4th quarter. Wedbush Securities Inc. now owns 135,281 shares of the pipeline company's stock worth $2,650,000 after buying an additional 41,438 shares in the last quarter. Finally, Paragon Capital Management Ltd boosted its stake in shares of Energy Transfer by 435.5% in the 4th quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company's stock worth $1,346,000 after buying an additional 55,890 shares during the last quarter. Institutional investors 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.