Energy Transfer (NYSE:ET) Stock Price Down 2.3% – Should You Sell?

Energy Transfer LP (NYSE:ET)’s stock price dropped 2.3% during trading on Monday . The company traded as low as $18.63 and last traded at $18.95. Approximately 9,789,405 shares changed hands during trading, a decline of 41% from the average daily volume of 16,560,041 shares. The stock had previously closed at $19.39.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ET. The Goldman Sachs Group upped their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Barclays upped their price target on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Wells Fargo & Company lifted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Royal Bank of Canada boosted their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, Citigroup raised their target price on shares of Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Energy Transfer presently has a consensus rating of “Moderate Buy” and an average price target of $21.55.

Energy Transfer Price Performance

The firm’s 50-day moving average is $19.88 and its two-hundred day moving average is $17.97. The company has a market cap of $65.69 billion, a P/E ratio of 14.96, a PEG ratio of 0.64 and a beta of 1.69. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share 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%. Analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 6.79%. The ex-dividend date was Friday, February 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 101.56%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Capital A Wealth Management LLC purchased a new stake in shares of Energy Transfer during the fourth quarter valued at $26,000. Leigh Baldwin & CO. LLC purchased a new stake in shares of Energy Transfer during the fourth quarter valued at $244,000. Armis Advisers LLC purchased a new stake in shares of Energy Transfer during the fourth quarter valued at $267,000. Integrated Advisors Network LLC boosted its stake in shares of Energy Transfer by 7.1% during the fourth quarter. Integrated Advisors Network LLC now owns 105,077 shares of the pipeline company’s stock valued at $2,058,000 after purchasing an additional 6,931 shares during the period. Finally, Garde Capital Inc. purchased a new stake in shares of Energy Transfer during the fourth quarter valued at $130,000. Institutional investors 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.