Energy Transfer (NYSE:ET) Stock Price Down 1.3% – Should You Sell?

Shares of Energy Transfer LP (NYSE:ET) fell 1.3% during trading on Friday . The company traded as low as $19.11 and last traded at $19.1590. 9,939,460 shares changed hands during trading, a decline of 37% from the average session volume of 15,720,715 shares. The stock had previously closed at $19.42.

Analyst Ratings Changes

A number of research firms recently commented on ET. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Truist Financial began coverage on shares of Energy Transfer in a research note on Tuesday, March 24th. They set a “buy” rating and a $23.00 price target for the company. Morgan Stanley lifted their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $23.45.

Energy Transfer Stock Down 1.3%

The business’s fifty day moving average is $19.43 and its two-hundred day moving average is $18.16. The company has a market cap of $65.93 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 1.12 and a beta of 0.57. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.93 and a current ratio of 1.17.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The company had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $25.78 billion. During the same quarter in the previous year, the business earned $0.36 EPS. The company’s quarterly revenue was up 32.1% compared to the same quarter last year. Equities analysts predict that Energy Transfer LP will post 1.41 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were issued a dividend of $0.3375 per share. This represents a $1.35 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date was Friday, May 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio (DPR) is 112.50%.

Institutional Investors Weigh In On Energy Transfer

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lavelle Capital LP bought a new stake in shares of Energy Transfer in the 1st quarter valued at about $1,050,000. Alpine Woods Capital Investors LLC raised its holdings in shares of Energy Transfer by 21.5% in the 1st quarter. Alpine Woods Capital Investors LLC now owns 14,400 shares of the pipeline company’s stock valued at $278,000 after purchasing an additional 2,550 shares in the last quarter. Summit Financial Wealth Advisors LLC raised its holdings in shares of Energy Transfer by 15.5% in the 1st quarter. Summit Financial Wealth Advisors LLC now owns 28,233 shares of the pipeline company’s stock valued at $545,000 after purchasing an additional 3,785 shares in the last quarter. Axiom Investment Management LLC bought a new stake in shares of Energy Transfer in the 1st quarter valued at about $1,754,000. Finally, GKV Capital Management Co. Inc. bought a new stake in shares of Energy Transfer in the 1st quarter valued at about $74,000. Institutional investors own 38.22% of the company’s stock.

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.