Energy Transfer (NYSE:ET) Shares Down 2.2% – Time to Sell?

Energy Transfer LP (NYSE:ET) shares dropped 2.2% during trading on Monday . The stock traded as low as $19.86 and last traded at $19.9050. 13,138,821 shares changed hands during trading, a decline of 4% from the average session volume of 13,702,785 shares. The stock had previously closed at $20.36.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ET. Barclays restated an “overweight” rating and issued a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 14th. Citigroup reiterated 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. Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a research note on Friday, June 5th. Scotiabank restated an “outperform” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Finally, UBS Group reiterated a “buy” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Three 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. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $23.50.

Energy Transfer Stock Performance

The stock’s 50 day moving average is $19.55 and its two-hundred day moving average is $18.99. The firm has a market capitalization of $68.50 billion, a P/E ratio of 16.59, a P/E/G ratio of 1.18 and a beta of 0.55. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93.

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

Institutional Investors Weigh In On Energy Transfer

Institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC grew its holdings in Energy Transfer by 93.4% during the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock valued at $481,000 after purchasing an additional 11,844 shares during the period. AQR Capital Management LLC grew its holdings in shares of Energy Transfer by 62.8% in the 1st quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock valued at $391,000 after buying an additional 8,118 shares during the period. Geode Capital Management LLC increased its position in shares of Energy Transfer by 6.2% in the 2nd quarter. Geode Capital Management LLC now owns 135,395 shares of the pipeline company’s stock valued at $2,455,000 after buying an additional 7,901 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Energy Transfer by 436.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,179 shares of the pipeline company’s stock worth $76,000 after buying an additional 3,400 shares during the period. Finally, Guggenheim Capital LLC raised its stake in Energy Transfer by 5.6% during the 2nd quarter. Guggenheim Capital LLC now owns 50,919 shares of the pipeline company’s stock worth $923,000 after buying an additional 2,700 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

About Energy Transfer

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.