Energy Transfer (NYSE:ET) Shares Down 0.4% – What’s Next?

Energy Transfer LP (NYSE:ET) shares were down 0.4% during mid-day trading on Tuesday . The company traded as low as $16.32 and last traded at $16.48. Approximately 3,140,506 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 13,083,410 shares. The stock had previously closed at $16.55.

Analyst Ratings Changes

Several equities analysts have commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. UBS Group increased their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Mizuho boosted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Energy Transfer presently has an average rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Price Performance

The company has a fifty day moving average price of $16.07 and a two-hundred day moving average price of $15.93. The firm has a market capitalization of $55.44 billion, a price-to-earnings ratio of 15.10, a P/E/G ratio of 0.50 and a beta of 1.66. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The business had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. During the same quarter in the prior year, the company earned $0.25 EPS. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, equities research analysts expect that Energy Transfer LP will post 1.35 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were paid a dividend of $0.32 per share. The ex-dividend date was Friday, August 9th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a yield of 7.78%. Energy Transfer’s dividend payout ratio is currently 117.43%.

Insider Buying and Selling at Energy Transfer

In related news, Director Kelcy L. Warren purchased 3,000,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the purchase, the director now directly owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Gregory G. Mcilwain acquired 20,000 shares of Energy Transfer stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the purchase, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kelcy L. Warren bought 3,000,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was bought at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the acquisition, the director now owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 3,040,000 shares of company stock worth $47,667,200. 3.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Energy Transfer

A number of institutional investors and hedge funds have recently modified their holdings of the company. LRI Investments LLC acquired a new stake in Energy Transfer in the 1st quarter valued at about $29,000. HWG Holdings LP acquired a new stake in shares of Energy Transfer in the second quarter valued at approximately $33,000. Sugarloaf Wealth Management LLC increased its stake in shares of Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 750 shares in the last quarter. Adirondack Trust Co. acquired a new position in shares of Energy Transfer during the 4th quarter worth approximately $42,000. Finally, EdgeRock Capital LLC purchased a new stake in Energy Transfer in the 2nd quarter valued at approximately $42,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Company Profile

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.