Energy Transfer (NYSE:ET) Stock Price Down 0.3% – Should You Sell?

Energy Transfer LP (NYSE:ET)’s share price dropped 0.3% on Friday . The stock traded as low as $18.89 and last traded at $19.01. Approximately 2,050,303 shares changed hands during trading, a decline of 85% from the average daily volume of 13,657,082 shares. The stock had previously closed at $19.07.

Analyst Upgrades and Downgrades

ET has been the subject of several recent research reports. Bank of America initiated coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. UBS Group raised their price target on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Royal Bank of Canada raised their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $20.00.

Energy Transfer Stock Down 0.1 %

The stock has a market cap of $65.26 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 0.63 and a beta of 1.70. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The stock has a fifty day moving average of $17.23 and a two-hundred day moving average of $16.39.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. During the same quarter last year, the firm earned $0.31 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, analysts predict that Energy Transfer LP will post 1.32 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.77%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio is presently 94.85%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Princeton Global Asset Management LLC increased its position in shares of Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 650 shares during the last quarter. Assetmark Inc. lifted its position in Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares during the period. HWG Holdings LP bought a new position in shares of Energy Transfer in the second quarter valued at $33,000. Sugarloaf Wealth Management LLC increased its holdings in shares of Energy Transfer by 43.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after buying an additional 750 shares in the last quarter. Finally, Continuum Advisory LLC increased its holdings in shares of Energy Transfer by 44.8% in the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock valued at $40,000 after buying an additional 729 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

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.