Energy Transfer (NYSE:ET) Stock Price Down 5.1% – Should You Sell?

Energy Transfer LP (NYSE:ET)’s share price traded down 5.1% during trading on Thursday . The stock traded as low as $17.71 and last traded at $17.97. 13,085,045 shares changed hands during trading, a decline of 10% from the average session volume of 14,571,718 shares. The stock had previously closed at $18.93.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ET. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Morgan Stanley boosted their price target on Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Stifel Nicolaus increased their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Barclays lifted their target price on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Finally, Citigroup reiterated a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Energy Transfer presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.09.

Energy Transfer Stock Down 6.5 %

The firm has a market cap of $60.75 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. The stock’s 50 day moving average is $19.34 and its 200 day moving average is $18.43. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results 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%. Analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were paid a $0.325 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 7.34%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 101.56%.

Institutional Investors Weigh In On Energy Transfer

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Thrivent Financial for Lutherans raised its holdings in Energy Transfer by 57.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 21,671 shares of the pipeline company’s stock worth $348,000 after buying an additional 7,870 shares during the period. Chevy Chase Trust Holdings LLC raised its holdings in shares of Energy Transfer by 2.9% during the third quarter. Chevy Chase Trust Holdings LLC now owns 52,166 shares of the pipeline company’s stock valued at $837,000 after acquiring an additional 1,486 shares during the period. Hilltop Holdings Inc. lifted its position in shares of Energy Transfer by 340.4% in the 3rd quarter. Hilltop Holdings Inc. now owns 64,432 shares of the pipeline company’s stock valued at $1,034,000 after acquiring an additional 49,802 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in Energy Transfer by 15.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 144,200 shares of the pipeline company’s stock worth $2,314,000 after purchasing an additional 19,669 shares during the period. Finally, Philosophy Capital Management LLC grew its position in Energy Transfer by 0.9% during the 3rd quarter. Philosophy Capital Management LLC now owns 2,759,085 shares of the pipeline company’s stock worth $44,283,000 after purchasing an additional 24,768 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

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.