Energy Transfer (NYSE:ET) Trading Down 5.1% - Should You Sell?

Energy Transfer LP (NYSE:ET - Get Free Report)'s share price was down 5.1% on Thursday . The company traded as low as $17.71 and last traded at $17.97. Approximately 13,085,045 shares were traded during trading, a decline of 10% from the average daily volume of 14,571,718 shares. The stock had previously closed at $18.93.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ET. Citigroup restated a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. The Goldman Sachs Group boosted their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the company a "neutral" rating in a report on Thursday, December 19th. Wells Fargo & Company increased their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. Royal Bank of Canada reissued an "outperform" rating and set a $23.00 target price on shares of Energy Transfer in a research note on Tuesday, March 25th. Finally, Stifel Nicolaus raised their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $22.09.

Energy Transfer Price Performance

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 moving average of $19.18 and a two-hundred day moving average of $18.46. The firm has a market cap of $54.61 billion, a P/E ratio of 12.43, a PEG ratio of 0.64 and a beta of 1.32.

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Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings data 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 return on equity of 11.56% and a net margin of 5.74%. Sell-side analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 8.17%. The ex-dividend date was Friday, February 7th. This is an increase from Energy Transfer's previous quarterly dividend of $0.32. Energy Transfer's payout ratio is presently 101.56%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ET. Kovitz Investment Group Partners LLC grew its position in Energy Transfer by 830.5% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 301,291 shares of the pipeline company's stock worth $4,695,000 after purchasing an additional 268,912 shares in the last quarter. EP Wealth Advisors LLC boosted its position in shares of Energy Transfer by 50.7% in the third quarter. EP Wealth Advisors LLC now owns 61,493 shares of the pipeline company's stock worth $987,000 after buying an additional 20,699 shares during the period. National Bank of Canada FI grew its holdings in shares of Energy Transfer by 56.8% during the third quarter. National Bank of Canada FI now owns 45,381 shares of the pipeline company's stock valued at $728,000 after buying an additional 16,439 shares in the last quarter. Zacks Investment Management acquired a new position in Energy Transfer during the third quarter valued at $181,000. Finally, MML Investors Services LLC lifted its stake in Energy Transfer by 2.4% in the 3rd quarter. MML Investors Services LLC now owns 109,984 shares of the pipeline company's stock worth $1,765,000 after acquiring an additional 2,620 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

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.