Energy Transfer (NYSE:ET) Shares Down 1.1% - Should You Sell?

Energy Transfer LP (NYSE:ET - Get Free Report) shares fell 1.1% during trading on Thursday . The stock traded as low as $20.41 and last traded at $20.56. 3,896,033 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 17,141,037 shares. The stock had previously closed at $20.79.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ET. Wells Fargo & Company boosted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company an "overweight" rating in a report on Wednesday, December 18th. The Goldman Sachs Group raised their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a "neutral" rating in a research report on Thursday, December 19th. Bank of America assumed coverage on Energy Transfer in a research report on Thursday, October 17th. They set a "buy" rating and a $20.00 price target on the stock. Barclays upped their target price on Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Finally, Royal Bank of Canada increased their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an "outperform" rating in a research report on Monday, December 9th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $20.82.

Remove Ads

Energy Transfer Stock Down 2.2 %

The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The business's fifty day moving average price is $19.71 and its two-hundred day moving average price is $17.64. The firm has a market cap of $68.19 billion, a P/E ratio of 14.64, a P/E/G ratio of 0.52 and a beta of 1.69.

Energy Transfer (NYSE:ET - Get Free Report) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. The company had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business's revenue was up .2% compared to the same quarter last year. During the same period last year, the company earned $0.31 earnings per share. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.37 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be issued a $0.325 dividend. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a yield of 6.53%. The ex-dividend date is Friday, February 7th. Energy Transfer's payout ratio is 95.59%.

Hedge Funds Weigh In On Energy Transfer

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ET. GAMMA Investing LLC acquired a new position in Energy Transfer in the 4th quarter valued at $29,000. Princeton Global Asset Management LLC grew its position in shares of Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company's stock valued at $26,000 after purchasing an additional 650 shares during the last quarter. Assetmark Inc. increased its stake in shares of Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company's stock worth $28,000 after purchasing an additional 1,668 shares during the period. United Community Bank acquired a new position in shares of Energy Transfer during the 4th quarter worth about $35,000. Finally, Financial Life Planners bought a new stake in Energy Transfer during the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds 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.