Energy Transfer (NYSE:ET) Stock Price Down 3.1% - Time to Sell?

Energy Transfer LP (NYSE:ET - Get Free Report) shares fell 3.1% on Monday . The company traded as low as $14.60 and last traded at $15.66. 23,102,339 shares traded hands during trading, an increase of 55% from the average session volume of 14,880,166 shares. The stock had previously closed at $16.16.

Wall Street Analysts Forecast Growth

ET has been the topic of several analyst reports. UBS Group restated a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. Citigroup reaffirmed a "buy" rating on shares of Energy Transfer in a report on Monday, March 24th. Morgan Stanley increased their price target on Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. The Goldman Sachs Group boosted their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a "neutral" rating in a research report on Thursday, December 19th. Finally, 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. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $22.09.

Energy Transfer Stock Up 1.4 %

The firm has a market capitalization of $55.33 billion, a P/E ratio of 12.60, a PEG ratio of 0.64 and a beta of 1.32. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The stock has a 50 day moving average of $18.55 and a 200-day moving average of $18.42.

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Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. 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 Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 8.06%. This is an increase from Energy Transfer's previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. Energy Transfer's dividend payout ratio is presently 101.56%.

Hedge Funds Weigh In On Energy Transfer

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mountain Hill Investment Partners Corp. purchased a new position in shares of Energy Transfer during the fourth quarter worth about $25,000. Capital A Wealth Management LLC bought a new stake in Energy Transfer during the fourth quarter valued at approximately $26,000. GAMMA Investing LLC purchased a new position in Energy Transfer in the 4th quarter worth approximately $29,000. Fourth Dimension Wealth LLC bought a new position in Energy Transfer in the fourth quarter valued at $29,000. Finally, United Community Bank bought a new stake in Energy Transfer during the fourth quarter worth about $35,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

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.