Energy Transfer (NYSE:ET) Trading Down 0.3% – Should You Sell?

Energy Transfer LP (NYSE:ET) dropped 0.3% during trading on Tuesday . The stock traded as low as $19.52 and last traded at $19.52. Approximately 2,735,286 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 13,632,753 shares. The stock had previously closed at $19.57.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Royal Bank of Canada lifted their target price 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 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 assumed coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, UBS Group raised their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $20.55.

Energy Transfer Stock Performance

The stock has a fifty day simple moving average of $18.16 and a two-hundred day simple moving average of $16.82. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The stock has a market cap of $66.90 billion, a price-to-earnings ratio of 14.37, a P/E/G ratio of 0.63 and a beta of 1.70.

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

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were issued a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 6.60%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%.

Hedge Funds Weigh In On Energy Transfer

A number of hedge funds have recently modified their holdings of ET. Fortis Capital Management LLC boosted its holdings in Energy Transfer by 2.0% in the third quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock valued at $513,000 after acquiring an additional 634 shares during the last quarter. Princeton Global Asset Management LLC lifted its position in shares of 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 worth $26,000 after purchasing an additional 650 shares during the period. Haverford Trust Co boosted its stake in shares of Energy Transfer by 0.7% in the 3rd quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company’s stock valued at $1,640,000 after purchasing an additional 675 shares during the last quarter. Veracity Capital LLC increased its position in shares of Energy Transfer by 2.0% during the third quarter. Veracity Capital LLC now owns 34,255 shares of the pipeline company’s stock worth $550,000 after buying an additional 680 shares during the period. Finally, Fidelis Capital Partners LLC raised its stake in Energy Transfer by 2.3% during the third quarter. Fidelis Capital Partners LLC now owns 31,858 shares of the pipeline company’s stock worth $522,000 after buying an additional 709 shares during the last quarter. Institutional investors and hedge funds 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.