Energy Transfer (NYSE:ET) Trading Down 2.8% – Time to Sell?

Shares of Energy Transfer LP (NYSE:ET) fell 2.8% during trading on Thursday . The stock traded as low as $15.93 and last traded at $16.21. 5,508,990 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 15,161,495 shares. The stock had previously closed at $16.67.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ET shares. Stifel Nicolaus increased their price target 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 increased their target price on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Wells Fargo & Company lifted their price target on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Energy Transfer in a research note on Tuesday, March 25th. Finally, Citigroup reissued a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.09.

Energy Transfer Trading Up 1.4 %

The firm has a market cap of $55.33 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The business has a 50 day moving average price of $18.55 and a 200-day moving average price of $18.42.

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

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were paid a dividend of $0.325 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 8.06%. Energy Transfer’s payout ratio is 101.56%.

Institutional Trading of Energy Transfer

A number of hedge funds and other institutional investors have recently modified their holdings of ET. Mountain Hill Investment Partners Corp. bought a new stake in shares of Energy Transfer in the fourth quarter worth $25,000. Capital A Wealth Management LLC bought a new position in Energy Transfer during the 4th quarter valued at $26,000. GAMMA Investing LLC acquired a new position in Energy Transfer during the 4th quarter worth $29,000. Fourth Dimension Wealth LLC bought a new stake in shares of Energy Transfer in the 4th quarter worth about $29,000. Finally, United Community Bank acquired a new stake in shares of Energy Transfer in the 4th quarter valued at about $35,000. 38.22% of the stock is owned by hedge funds and other 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.