Energy Transfer (NYSE:ET) Trading Down 1.6% – Should You Sell?

Energy Transfer LP (NYSE:ET)’s share price was down 1.6% during trading on Tuesday . The stock traded as low as $19.01 and last traded at $19.04. Approximately 8,034,887 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 15,284,771 shares. The stock had previously closed at $19.34.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ET shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Energy Transfer in a research report on Friday. TD Cowen reaffirmed a “buy” rating and issued a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research report on Wednesday, May 13th. Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Energy Transfer in a research report on Wednesday, May 6th. Finally, Citigroup reaffirmed a “buy” rating and issued a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Energy Transfer presently has an average rating of “Buy” and a consensus target price of $23.45.

Energy Transfer Stock Performance

The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.93 and a current ratio of 1.17. The firm’s 50 day simple moving average is $19.47 and its 200 day simple moving average is $18.28. The firm has a market capitalization of $65.52 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 1.12 and a beta of 0.55.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.05). Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The business had revenue of $27.77 billion for the quarter, compared to analyst estimates of $25.78 billion. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The business’s revenue was up 32.1% on a year-over-year basis. Sell-side analysts forecast that Energy Transfer LP will post 1.43 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were paid a dividend of $0.3375 per share. This represents a $1.35 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio is 112.50%.

Institutional Investors Weigh In On Energy Transfer

A number of institutional investors have recently added to or reduced their stakes in ET. Basepoint Wealth LLC acquired a new stake in Energy Transfer in the 4th quarter valued at $25,000. Gables Capital Management Inc. raised its holdings in Energy Transfer by 60.0% in the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock valued at $26,000 after buying an additional 600 shares during the period. Sarver Vrooman Wealth Advisors purchased a new stake in Energy Transfer in the 4th quarter valued at about $32,000. Financial Life Planners purchased a new stake in Energy Transfer in the 3rd quarter valued at about $34,000. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in Energy Transfer in the 1st quarter valued at about $35,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.