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

Shares of Energy Transfer LP (NYSE:ET) fell 1.5% on Wednesday . The company traded as low as $18.72 and last traded at $19.0190. 21,584,447 shares traded hands during mid-day trading, an increase of 37% from the average session volume of 15,809,467 shares. The stock had previously closed at $19.30.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ET shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Energy Transfer in a research report on Wednesday, December 24th. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research report on Wednesday, January 7th. TD Cowen boosted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Wells Fargo & Company upped their price target on shares of Energy Transfer from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, March 13th. Finally, Truist Financial started coverage on Energy Transfer in a research report on Tuesday, March 24th. They issued a “buy” rating and a $23.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.60.

Energy Transfer Trading Down 1.5%

The firm has a market capitalization of $65.43 billion, a P/E ratio of 15.72, a PEG ratio of 1.10 and a beta of 0.63. The company has a quick ratio of 0.90, a current ratio of 1.22 and a debt-to-equity ratio of 1.50. The business has a 50-day moving average price of $18.63 and a 200-day moving average price of $17.44.

Energy Transfer (NYSE:ET) last issued its earnings results on Tuesday, February 17th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.09). Energy Transfer had a return on equity of 10.17% and a net margin of 5.11%.The firm had revenue of $25.32 billion during the quarter, compared to the consensus estimate of $23.56 billion. During the same period last year, the business earned $0.29 earnings per share. The firm’s revenue for the quarter was up 29.6% compared to the same quarter last year. Analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Friday, February 6th were issued a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend was Friday, February 6th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is 110.74%.

Institutional Trading of Energy Transfer

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Basepoint Wealth LLC bought a new position in Energy Transfer during the fourth quarter worth about $25,000. Gables Capital Management Inc. raised its holdings in shares of Energy Transfer by 60.0% in the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after buying an additional 600 shares in the last quarter. Sarver Vrooman Wealth Advisors acquired a new position in shares of Energy Transfer in the 4th quarter worth approximately $32,000. Financial Life Planners bought a new position in shares of Energy Transfer during the 3rd quarter worth approximately $34,000. Finally, Navalign LLC bought a new position in shares of Energy Transfer during the 4th quarter worth approximately $37,000. Institutional investors own 38.22% of the company’s stock.

About Energy Transfer

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.