Energy Transfer (NYSE:ET) Stock Price Down 0.5% – Time to Sell?

Shares of Energy Transfer LP (NYSE:ET) were down 0.5% during trading on Thursday . The stock traded as low as $19.88 and last traded at $19.94. Approximately 3,789,766 shares changed hands during trading, a decline of 72% from the average daily volume of 13,625,506 shares. The stock had previously closed at $20.04.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ET shares. Royal Bank of Canada lifted their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Barclays boosted their price objective 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 target price on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. The Goldman Sachs Group increased their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Finally, Bank of America started coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Energy Transfer currently has a consensus rating of “Moderate Buy” and an average price target of $20.82.

Energy Transfer Price Performance

The stock has a fifty day moving average price of $18.96 and a 200-day moving average price of $17.16. 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 firm has a market capitalization of $69.45 billion, a PE ratio of 14.91, a P/E/G ratio of 0.57 and a beta of 1.70.

Energy Transfer (NYSE:ET) last released 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 business had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company’s revenue was up .2% compared to the same quarter last year. During the same period last year, the business earned $0.31 EPS. Sell-side analysts forecast that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were given a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.36%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s payout ratio is presently 94.85%.

Hedge Funds Weigh In On Energy Transfer

Several hedge funds have recently modified their holdings of ET. FMR LLC raised its stake in shares of Energy Transfer by 44.0% in the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after purchasing an additional 10,195,768 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Energy Transfer by 1,491.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock worth $67,020,000 after purchasing an additional 3,913,266 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Energy Transfer by 36.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock valued at $185,594,000 after buying an additional 3,106,631 shares in the last quarter. Citigroup Inc. increased its stake in shares of Energy Transfer by 45.9% during the third quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after purchasing an additional 3,013,973 shares in the last quarter. Finally, Pathway Financial Advisers LLC increased its stake in Energy Transfer by 1,837.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,338,885 shares of the pipeline company’s stock worth $21,489,000 after buying an additional 1,269,778 shares in 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.