Energy Transfer (NYSE:ET) Trading Down 7.6% - Time to Sell?

Energy Transfer LP (NYSE:ET - Get Free Report) shares were down 7.6% during mid-day trading on Friday . The stock traded as low as $15.63 and last traded at $16.39. Approximately 22,535,972 shares were traded during mid-day trading, an increase of 53% from the average daily volume of 14,695,584 shares. The stock had previously closed at $17.73.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ET shares. The Goldman Sachs Group lifted their price objective on Energy Transfer from $17.00 to $20.00 and gave the company a "neutral" rating in a report on Thursday, December 19th. Morgan Stanley upped their price objective on Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. Barclays increased their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $23.00 price target on shares of Energy Transfer in a report on Tuesday, March 25th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $22.09.

Energy Transfer Trading Down 2.6 %

The business has a 50 day moving average of $19.10 and a 200-day moving average of $18.46. The stock has a market cap of $53.03 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42.

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Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. On average, analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were paid a dividend of $0.325 per share. This is an increase from Energy Transfer's previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 8.41%. Energy Transfer's dividend payout ratio is presently 101.56%.

Institutional Trading of Energy Transfer

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Abner Herrman & Brock LLC acquired a new position in Energy Transfer in the first quarter valued at $186,000. Fifth Third Wealth Advisors LLC acquired a new position in shares of Energy Transfer during the 1st quarter valued at about $385,000. Asset Allocation & Management Company LLC purchased a new position in shares of Energy Transfer during the 1st quarter worth about $186,000. Rothschild Investment LLC boosted its position in shares of Energy Transfer by 26.7% in the first quarter. Rothschild Investment LLC now owns 15,912 shares of the pipeline company's stock worth $296,000 after acquiring an additional 3,350 shares during the last quarter. Finally, Private Client Services LLC grew its holdings in Energy Transfer by 31.2% in the first quarter. Private Client Services LLC now owns 22,185 shares of the pipeline company's stock valued at $412,000 after purchasing an additional 5,270 shares during the period. 38.22% of the stock is 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.