Energy Transfer (NYSE:ET) Stock Price Down 1.4% – Should You Sell?

Energy Transfer LP (NYSE:ET)’s stock price fell 1.4% during mid-day trading on Thursday . The company traded as low as $19.28 and last traded at $19.33. 1,928,797 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 13,678,332 shares. The stock had previously closed at $19.60.

Wall Street Analyst Weigh In

Several research analysts recently commented on ET shares. Royal Bank of Canada lifted 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. The Goldman Sachs Group lifted 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. Bank of America initiated coverage on Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. UBS Group lifted 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. Finally, Wells Fargo & Company raised their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.55.

Energy Transfer Stock Performance

The firm has a market cap of $66.01 billion, a P/E ratio of 14.18, a PEG ratio of 0.63 and a beta of 1.70. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The stock’s 50 day moving average is $18.09 and its two-hundred day moving average is $16.77.

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

Energy Transfer Cuts Dividend

The company also recently announced 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 6.69%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%.

Institutional Trading of Energy Transfer

Several large investors have recently made changes to their positions in ET. Princeton Global Asset Management LLC lifted its position in Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares in the last quarter. Assetmark Inc. lifted its position in shares of Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares in the last quarter. HWG Holdings LP bought a new stake in shares of Energy Transfer during the second quarter valued at approximately $33,000. Continuum Advisory LLC increased its holdings in shares of Energy Transfer by 44.8% in the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 729 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC raised its position in Energy Transfer by 43.6% in 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 last quarter. Institutional investors own 38.22% of the company’s stock.

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.