Energy Transfer (NYSE:ET) Shares Down 0.2% - Should You Sell?

Energy Transfer LP (NYSE:ET - Get Free Report)'s stock price fell 0.2% during mid-day trading on Wednesday . The stock traded as low as $19.36 and last traded at $19.45. 2,556,475 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 12,665,301 shares. The stock had previously closed at $19.49.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ET. Royal Bank of Canada upped their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. Barclays increased their price target on shares of Energy Transfer from $18.00 to $22.00 and gave the stock an "overweight" rating in a research note on Friday, December 20th. The Goldman Sachs Group upped their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday, December 19th. Wells Fargo & Company boosted their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 18th. Finally, Bank of America started coverage on Energy Transfer in a report on Thursday, October 17th. They issued a "buy" rating and a $20.00 target price on the stock. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $20.55.

Energy Transfer Stock Performance

The business's fifty day moving average is $18.61 and its 200-day moving average is $17.01. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The company has a market cap of $67.49 billion, a PE ratio of 14.49, a P/E/G ratio of 0.62 and a beta of 1.70.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. During the same period last year, the firm earned $0.31 EPS. The company's revenue was up .2% on a year-over-year basis. As a group, research analysts predict that Energy Transfer LP will post 1.32 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were issued a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 6.54%. Energy Transfer's dividend payout ratio is currently 94.85%.

Hedge Funds Weigh In On Energy Transfer

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company's stock valued at $535,738,000 after acquiring an additional 10,195,768 shares during the last quarter. Westwood Holdings Group Inc. lifted its stake in shares of Energy Transfer by 1.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 16,107,470 shares of the pipeline company's stock valued at $261,263,000 after purchasing an additional 171,720 shares during the last quarter. Chickasaw Capital Management LLC boosted its holdings in shares of Energy Transfer by 2.5% in the 4th quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company's stock worth $308,319,000 after purchasing an additional 388,073 shares during the period. Brookfield Corp ON increased its position in shares of Energy Transfer by 2.8% during the 3rd quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company's stock valued at $210,896,000 after purchasing an additional 352,625 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Energy Transfer by 36.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company's stock valued at $185,594,000 after buying an additional 3,106,631 shares during the period. 38.22% of the stock is owned by 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.