Energy Transfer (NYSE:ET) Stock Price Down 1.6% – Should You Sell?

Energy Transfer LP (NYSE:ET)’s share price fell 1.6% on Tuesday . The company traded as low as $19.01 and last traded at $19.04. 8,034,887 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 15,284,771 shares. The stock had previously closed at $19.34.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ET. Jefferies Financial Group upgraded Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Tuesday, May 26th. JPMorgan Chase & Co. boosted their price target on Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Truist Financial began coverage on Energy Transfer in a research note on Tuesday, March 24th. They set a “buy” rating and a $23.00 price objective on the stock. Wells Fargo & Company upped their price objective on Energy Transfer from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, March 13th. Finally, Morgan Stanley increased their price target on Energy Transfer from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Energy Transfer presently has an average rating of “Buy” and a consensus price target of $23.45.

Energy Transfer Trading Down 1.3%

The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $64.70 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 1.10 and a beta of 0.55. The firm has a 50-day moving average of $19.45 and a 200 day moving average of $18.32.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.05). Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The business had revenue of $27.77 billion during the quarter, compared to analyst estimates of $25.78 billion. During the same quarter in the prior year, the business earned $0.36 earnings per share. The firm’s revenue was up 32.1% compared to the same quarter last year. As a group, equities analysts predict that Energy Transfer LP will post 1.43 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a $0.3375 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.35 annualized dividend and a yield of 7.2%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s payout ratio is 112.50%.

Hedge Funds Weigh In On Energy Transfer

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Basepoint Wealth LLC bought a new position in Energy Transfer during the 4th quarter valued at $25,000. Gables Capital Management Inc. boosted its position in shares of Energy Transfer by 60.0% in the fourth 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 during the period. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Energy Transfer in the first quarter worth $35,000. Sarver Vrooman Wealth Advisors acquired a new stake in shares of Energy Transfer in the fourth quarter worth $32,000. Finally, Financial Life Planners purchased a new stake in shares of Energy Transfer during the third quarter worth $34,000. 38.22% of the stock is owned by institutional investors.

Energy Transfer Company Profile

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.