Energy Transfer (NYSE:ET) Trading Down 1% - Time to Sell?

Energy Transfer LP (NYSE:ET - Get Free Report)'s stock price fell 1% during trading on Wednesday . The stock traded as low as $17.91 and last traded at $17.96. 2,364,755 shares changed hands during trading, a decline of 85% from the average session volume of 15,459,241 shares. The stock had previously closed at $18.14.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ET shares. Morgan Stanley increased their price target on Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Royal Bank of Canada restated an "outperform" rating and set a $23.00 target price on shares of Energy Transfer in a report on Tuesday, March 25th. Stifel Nicolaus boosted their price target on Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Wells Fargo & Company lowered their target price 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 reissued a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $22.64.

Energy Transfer Stock Performance

The stock has a market cap of $61.50 billion, a price-to-earnings ratio of 14.02, a P/E/G ratio of 0.64 and a beta of 0.77. 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 company has a 50 day simple moving average of $17.47 and a 200 day simple moving average of $18.58.

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

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 9th were given a dividend of $0.3275 per share. This represents a $1.31 dividend on an annualized basis and a dividend yield of 7.31%. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, May 9th. Energy Transfer's dividend payout ratio (DPR) is presently 99.24%.

Institutional Investors Weigh In On Energy Transfer

Hedge funds have recently bought and sold shares of the stock. Park Avenue Securities LLC purchased a new position in Energy Transfer in the 4th quarter worth approximately $237,000. Merit Financial Group LLC raised its stake in shares of Energy Transfer by 103.7% during the fourth quarter. Merit Financial Group LLC now owns 66,992 shares of the pipeline company's stock valued at $1,312,000 after acquiring an additional 34,105 shares during the last quarter. Koshinski Asset Management Inc. boosted its holdings in shares of Energy Transfer by 6.1% during the fourth quarter. Koshinski Asset Management Inc. now owns 14,603 shares of the pipeline company's stock worth $286,000 after purchasing an additional 834 shares during the period. Chesley Taft & Associates LLC increased its holdings in Energy Transfer by 28.5% during the 4th quarter. Chesley Taft & Associates LLC now owns 67,586 shares of the pipeline company's stock valued at $1,324,000 after purchasing an additional 15,000 shares during the period. Finally, Enclave Advisors LLC raised its position in Energy Transfer by 1.7% during the 4th quarter. Enclave Advisors LLC now owns 293,324 shares of the pipeline company's stock valued at $5,746,000 after purchasing an additional 4,903 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

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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