Energy Transfer (NYSE:ET) Trading Down 1.5% – Time to Sell?

Energy Transfer LP (NYSE:ET)’s share price traded down 1.5% during mid-day trading on Friday . The stock traded as low as $18.57 and last traded at $18.57. 1,642,821 shares traded hands during trading, a decline of 89% from the average session volume of 14,448,048 shares. The stock had previously closed at $18.85.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Royal Bank of Canada lifted their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Citigroup lifted their target price on shares of Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Finally, The Goldman Sachs Group lifted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Energy Transfer presently has a consensus rating of “Moderate Buy” and an average price target of $21.55.

Energy Transfer Price Performance

The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The company’s 50 day moving average is $19.57 and its 200 day moving average is $18.27. The stock has a market cap of $63.98 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 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%. Research analysts forecast that Energy Transfer LP will post 1.46 earnings per share 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 of this dividend was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a yield of 6.97%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is presently 101.56%.

Hedge Funds Weigh In On Energy Transfer

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its position in 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 acquiring an additional 5,254,721 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its position in Energy Transfer by 7.7% during the fourth 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. raised its position in shares of 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 buying an additional 1,093,381 shares during the last quarter. Westwood Holdings Group Inc. raised its position in shares of 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 valued at $319,929,000 after buying an additional 2,512,060 shares during the last quarter. Finally, Chickasaw Capital Management LLC raised its position in shares of Energy Transfer by 2.5% in the fourth 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 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.