Energy Transfer (NYSE:ET) Stock Price Down 1.1% – Should You Sell?

Energy Transfer LP (NYSE:ET) shares dropped 1.1% during trading on Friday . The stock traded as low as $18.98 and last traded at $18.99. Approximately 2,750,684 shares changed hands during trading, a decline of 80% from the average daily volume of 13,630,396 shares. The stock had previously closed at $19.21.

Analysts Set New Price Targets

ET has been the topic of several research reports. Bank of America initiated coverage on Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. Royal Bank of Canada lifted their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday. Finally, UBS Group lifted their price target on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $20.38.

Energy Transfer Stock Down 1.1 %

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 business has a 50-day moving average price of $17.52 and a 200-day moving average price of $16.50. The firm has a market capitalization of $65.02 billion, a PE ratio of 13.96, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS 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 period in the prior year, the firm posted $0.31 earnings per share. The firm’s quarterly revenue was up .2% on a year-over-year basis. Equities research analysts forecast that Energy Transfer LP will post 1.32 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a yield of 6.79%. 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 large investors have recently added to or reduced their stakes in ET. Fiduciary Financial Group LLC purchased a new position in Energy Transfer in the second quarter valued at $372,000. Brookstone Capital Management grew its holdings in shares of Energy Transfer by 8.2% during the second quarter. Brookstone Capital Management now owns 205,620 shares of the pipeline company’s stock worth $3,313,000 after purchasing an additional 15,496 shares during the last quarter. Intellectus Partners LLC grew its holdings in shares of Energy Transfer by 4.0% during the second quarter. Intellectus Partners LLC now owns 107,230 shares of the pipeline company’s stock worth $1,739,000 after purchasing an additional 4,089 shares during the last quarter. Tyche Wealth Partners LLC grew its holdings in shares of Energy Transfer by 16.5% during the second quarter. Tyche Wealth Partners LLC now owns 26,141 shares of the pipeline company’s stock worth $424,000 after purchasing an additional 3,698 shares during the last quarter. Finally, Garrett Wealth Advisory Group LLC grew its holdings in shares of Energy Transfer by 3.8% during the second quarter. Garrett Wealth Advisory Group LLC now owns 28,045 shares of the pipeline company’s stock worth $455,000 after purchasing an additional 1,016 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

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.