Energy Transfer (NYSE:ET) Stock Price Down 1.2% – Time to Sell?

Energy Transfer LP (NYSE:ET) shares fell 1.2% during mid-day trading on Friday . The company traded as low as $17.39 and last traded at $17.48. 6,421,872 shares were traded during mid-day trading, a decline of 63% from the average session volume of 17,257,564 shares. The stock had previously closed at $17.70.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ET. Citigroup boosted their target price on shares of Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Barclays boosted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. The Goldman Sachs Group raised their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. UBS Group reissued a “buy” rating on shares of Energy Transfer in a report on Tuesday. Finally, Royal Bank of Canada raised their price objective on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and a consensus target price of $21.55.

Energy Transfer Stock Down 1.2 %

The firm has a market capitalization of $59.97 billion, a PE ratio of 13.66, a P/E/G ratio of 0.64 and a beta of 1.72. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The company has a 50-day moving average price of $19.81 and a 200 day moving average price of $18.10.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. Analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a dividend of $0.325 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.44%. Energy Transfer’s dividend payout ratio is currently 101.56%.

Institutional Trading of Energy Transfer

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can grew its position in shares of Energy Transfer by 12,090.8% during the fourth quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company’s stock valued at $244,005,000 after purchasing an additional 12,353,441 shares in the last quarter. FMR LLC grew its holdings in Energy Transfer by 44.0% during the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after buying an additional 10,195,768 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in Energy Transfer in the 4th quarter worth approximately $79,113,000. BNP Paribas Financial Markets increased its stake in Energy Transfer by 36.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after acquiring an additional 3,106,631 shares during the last quarter. Finally, Citigroup Inc. raised its holdings in shares of Energy Transfer by 45.9% during the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after acquiring an additional 3,013,973 shares in the last quarter. 38.22% of the stock is currently 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.