Energy Transfer (NYSE:ET) Shares Down 4.1% – Time to Sell?

Energy Transfer LP (NYSE:ET) shares traded down 4.1% during mid-day trading on Monday . The stock traded as low as $19.90 and last traded at $20.18. 11,275,140 shares were traded during mid-day trading, a decline of 28% from the average session volume of 15,595,207 shares. The stock had previously closed at $21.05.

Wall Street Analyst Weigh In

ET has been the topic of several recent research reports. Barclays raised their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Bank of America started coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. Royal Bank of Canada boosted their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. The Goldman Sachs Group increased their price objective 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, Wells Fargo & Company boosted their target price 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. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and an average price target of $20.82.

Energy Transfer Stock Performance

The company has a 50 day moving average price of $19.48 and a 200 day moving average price of $17.41. 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 company has a market capitalization of $70.28 billion, a price-to-earnings ratio of 15.09, a P/E/G ratio of 0.55 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 (EPS) for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same quarter last year, the firm posted $0.31 EPS. Energy Transfer’s revenue was up .2% compared to the same quarter last year. Equities research analysts predict that Energy Transfer LP will post 1.37 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be issued a dividend of $0.325 per share. The ex-dividend date is Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 6.33%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is 94.85%.

Institutional Investors Weigh In On Energy Transfer

A number of institutional investors have recently added to or reduced their stakes in ET. Hsbc Holdings PLC bought a new position in Energy Transfer during the second quarter valued at about $290,000. Sei Investments Co. grew its position in shares of Energy Transfer by 77.4% during the 2nd quarter. Sei Investments Co. now owns 46,063 shares of the pipeline company’s stock valued at $747,000 after acquiring an additional 20,093 shares during the period. Bank of Montreal Can increased its stake in shares of Energy Transfer by 4.1% during the 2nd quarter. Bank of Montreal Can now owns 98,342 shares of the pipeline company’s stock worth $1,598,000 after purchasing an additional 3,887 shares during the last quarter. Creative Planning raised its holdings in shares of Energy Transfer by 5.7% in the 2nd quarter. Creative Planning now owns 681,018 shares of the pipeline company’s stock worth $11,046,000 after purchasing an additional 36,668 shares during the period. Finally, Magnolia Capital Advisors LLC purchased a new position in Energy Transfer in the second quarter valued at approximately $496,000. 38.22% of the stock is owned by institutional investors.

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.