Energy Transfer (NYSE:ET) Stock Price Down 2% – Should You Sell?

Shares of Energy Transfer LP (NYSE:ET) fell 2% during mid-day trading on Tuesday . The company traded as low as $18.94 and last traded at $19.03. 7,049,795 shares traded hands during trading, a decline of 49% from the average session volume of 13,696,126 shares. The stock had previously closed at $19.42.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ET shares. UBS Group upped their price target on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Bank of America assumed coverage on Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target for the company. Finally, Royal Bank of Canada boosted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Energy Transfer has an average rating of “Buy” and an average target price of $20.00.

Energy Transfer Stock Down 0.6 %

The stock has a market cap of $66.08 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 0.64 and a beta of 1.70. The firm’s 50 day moving average is $16.99 and its two-hundred day moving average is $16.30. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same quarter last year, the business earned $0.31 earnings per share. Energy Transfer’s revenue was up .2% compared to the same quarter last year. On average, sell-side analysts predict that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were paid a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 6.68%. Energy Transfer’s payout ratio is currently 94.85%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Mather Group LLC. raised its holdings in shares of Energy Transfer by 95.4% in the 2nd quarter. Mather Group LLC. now owns 44,518 shares of the pipeline company’s stock worth $700,000 after purchasing an additional 21,740 shares during the period. Kingswood Wealth Advisors LLC grew its stake in Energy Transfer by 30.2% during the second quarter. Kingswood Wealth Advisors LLC now owns 63,321 shares of the pipeline company’s stock worth $1,027,000 after buying an additional 14,692 shares during the period. CWM LLC increased its position in shares of Energy Transfer by 27.6% in the second quarter. CWM LLC now owns 61,300 shares of the pipeline company’s stock worth $994,000 after acquiring an additional 13,248 shares in the last quarter. NBC Securities Inc. raised its stake in shares of Energy Transfer by 14.2% in the 2nd quarter. NBC Securities Inc. now owns 64,357 shares of the pipeline company’s stock valued at $1,043,000 after acquiring an additional 7,991 shares during the period. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of Energy Transfer by 19.4% during the 2nd quarter. Valeo Financial Advisors LLC now owns 285,438 shares of the pipeline company’s stock valued at $4,630,000 after acquiring an additional 46,467 shares in the last quarter. 38.22% of the stock is currently 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.