Energy Transfer (NYSE:ET) Trading Down 0.2% – Time to Sell?

Energy Transfer LP (NYSE:ET)’s share price traded down 0.2% on Wednesday . The company traded as low as $19.36 and last traded at $19.45. 2,556,475 shares traded hands during 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

ET has been the topic of a number of recent analyst reports. UBS Group upped their price target on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Barclays increased their price target on Energy Transfer from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Bank of America started coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. The Goldman Sachs Group lifted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Finally, Royal Bank of Canada upped their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.55.

Energy Transfer Stock Up 0.4 %

The company has a market cap of $67.01 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70. The business has a fifty day simple moving average of $18.54 and a two-hundred day simple moving average of $16.99. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40.

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

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.59%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

Institutional Investors Weigh In On Energy Transfer

Institutional investors have recently modified their holdings of the company. Princeton Global Asset Management LLC boosted its position in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after buying an additional 650 shares during the period. Assetmark Inc. raised its stake in shares of Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 1,668 shares in the last quarter. GAMMA Investing LLC purchased a new position in Energy Transfer in the fourth quarter valued at $29,000. HWG Holdings LP acquired a new position in Energy Transfer during the 2nd quarter worth $33,000. Finally, Sugarloaf Wealth Management LLC increased its holdings in Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 750 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

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.