Energy Transfer (NYSE:ET) Stock Price Down 2.3% – Time to Sell?

Energy Transfer LP (NYSE:ET) shares were down 2.3% during trading on Monday . The company traded as low as $18.63 and last traded at $18.95. Approximately 9,789,405 shares changed hands during trading, a decline of 41% from the average daily volume of 16,560,041 shares. The stock had previously closed at $19.39.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company upped their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Stifel Nicolaus increased their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Barclays boosted their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. The Goldman Sachs Group increased their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Finally, Royal Bank of Canada boosted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Energy Transfer presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

Energy Transfer Stock Down 1.8 %

The firm’s 50-day simple moving average is $19.87 and its two-hundred day simple moving average is $17.93. The stock has a market cap of $65.35 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 0.64 and a beta of 1.69. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. On average, sell-side analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a dividend of $0.325 per share. The ex-dividend date was Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a yield of 6.83%. Energy Transfer’s dividend payout ratio is presently 101.56%.

Hedge Funds Weigh In On Energy Transfer

Several large investors have recently bought and sold shares of ET. FMR LLC grew its stake in shares of Energy Transfer by 15.7% during the fourth quarter. FMR LLC now owns 38,634,018 shares of the pipeline company’s stock worth $756,840,000 after purchasing an additional 5,254,721 shares during the period. Kayne Anderson Capital Advisors LP boosted its stake in Energy Transfer by 7.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company’s stock worth $469,920,000 after acquiring an additional 1,723,683 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Energy Transfer by 5.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,776,221 shares of the pipeline company’s stock valued at $387,416,000 after purchasing an additional 1,093,381 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in Energy Transfer by 18.2% in the fourth quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company’s stock worth $319,929,000 after purchasing an additional 2,512,060 shares during the period. Finally, Chickasaw Capital Management LLC grew its holdings in shares of Energy Transfer by 2.5% in the 4th quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock valued at $308,319,000 after buying an additional 388,073 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Company Profile

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.