Energy Transfer (NYSE:ET) Stock Price Down 0.4% - Time to Sell?

Energy Transfer LP (NYSE:ET - Get Free Report)'s stock price fell 0.4% on Tuesday . The stock traded as low as $18.80 and last traded at $18.83. 1,878,258 shares were traded during trading, a decline of 87% from the average session volume of 14,486,133 shares. The stock had previously closed at $18.90.

Wall Street Analysts Forecast Growth

ET has been the subject of several research reports. UBS Group restated a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. The Goldman Sachs Group boosted their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Thursday, December 19th. Wells Fargo & Company lifted their price target on Energy Transfer from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Wednesday, December 18th. Citigroup upped their target price on shares of Energy Transfer from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Finally, Royal Bank of Canada lifted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $21.55.

Energy Transfer Price Performance

The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The stock has a market cap of $63.98 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 0.64 and a beta of 1.72. The stock has a 50-day moving average price of $19.59 and a two-hundred day moving average price of $18.24.

Remove Ads

Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. 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 business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a $0.325 dividend. The ex-dividend date was Friday, February 7th. This is an increase from Energy Transfer's previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a yield of 6.97%. Energy Transfer's payout ratio is presently 101.56%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans lifted its stake in Energy Transfer by 57.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 21,671 shares of the pipeline company's stock valued at $348,000 after buying an additional 7,870 shares in the last quarter. Avior Wealth Management LLC boosted its stake in shares of Energy Transfer by 45.5% in the third quarter. Avior Wealth Management LLC now owns 60,868 shares of the pipeline company's stock worth $977,000 after acquiring an additional 19,045 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in Energy Transfer in the 3rd quarter valued at $2,656,000. Strategy Asset Managers LLC purchased a new position in Energy Transfer in the 3rd quarter valued at $299,000. Finally, Citizens Financial Group Inc. RI acquired a new stake in Energy Transfer during the 3rd quarter worth $396,000. Hedge funds and other institutional investors own 38.22% of the company's stock.

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.