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

Energy Transfer LP (NYSE:ET)’s stock price was down 0.2% on Monday . The company traded as low as $18.69 and last traded at $18.82. Approximately 2,363,116 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 13,726,217 shares. The stock had previously closed at $18.86.

Wall Street Analyst Weigh In

ET has been the subject of a number of analyst reports. Royal Bank of Canada boosted their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. UBS Group upped their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. The Goldman Sachs Group raised 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 assumed coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. Finally, Barclays lifted their price objective on Energy Transfer from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, December 20th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $20.55.

Energy Transfer Stock Up 2.9 %

The stock’s fifty day moving average price is $17.92 and its 200-day moving average price is $16.71. The company has a market capitalization of $67.11 billion, a price-to-earnings ratio of 14.41, a P/E/G ratio of 0.63 and a beta of 1.70. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The firm 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 for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 EPS. On average, sell-side analysts predict that Energy Transfer LP will post 1.32 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 6.58%. Energy Transfer’s dividend payout ratio is 94.85%.

Institutional Investors Weigh In On Energy Transfer

Several large investors have recently made changes to their positions in ET. Fortis Capital Management LLC raised its position in Energy Transfer by 2.0% during the third quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock worth $513,000 after acquiring an additional 634 shares in the last quarter. Princeton Global Asset Management LLC increased its stake in shares of 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 purchasing an additional 650 shares during the last quarter. Haverford Trust Co raised its holdings 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 period. Veracity Capital LLC lifted its stake in Energy Transfer by 2.0% in the 3rd quarter. Veracity Capital LLC now owns 34,255 shares of the pipeline company’s stock valued at $550,000 after purchasing an additional 680 shares during the last quarter. Finally, Fidelis Capital Partners LLC increased its position 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.