Energy Transfer (NYSE:ET) Trading Down 0.2% – Should You Sell?

Energy Transfer LP (NYSE:ET)’s stock price was down 0.2% during mid-day trading on Monday . The stock traded as low as $16.36 and last traded at $16.38. Approximately 2,308,965 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 13,078,489 shares. The stock had previously closed at $16.41.

Analyst Ratings Changes

ET has been the topic of several analyst reports. UBS Group raised their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Royal Bank of Canada lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Bank of America initiated coverage on shares of Energy Transfer in a research note on Thursday. They set a “buy” rating and a $20.00 price objective for the company. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Energy Transfer currently has a consensus rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Trading Down 0.1 %

The firm has a fifty day moving average of $16.11 and a 200-day moving average of $15.95. The stock has a market capitalization of $55.27 billion, a price-to-earnings ratio of 15.03, a P/E/G ratio of 0.50 and a beta of 1.66. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14.

Energy Transfer (NYSE:ET) last released 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). The firm had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. Energy Transfer’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 earnings per share. As a group, equities analysts predict that Energy Transfer LP will post 1.35 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.80%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, August 9th. Energy Transfer’s dividend payout ratio is presently 117.43%.

Insider Transactions at Energy Transfer

In related news, CEO Thomas E. Long purchased 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Thomas E. Long acquired 20,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were 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 chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kelcy L. Warren purchased 3,000,000 shares of the stock in a transaction dated Monday, August 12th. The stock was purchased at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the acquisition, the director now directly owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 3,040,000 shares of company stock valued at $47,667,200. 3.28% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Energy Transfer

Several institutional investors and hedge funds have recently bought and sold shares of ET. Tortoise Capital Advisors L.L.C. raised its position in shares of Energy Transfer by 12.7% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock worth $594,769,000 after purchasing an additional 4,141,715 shares during the period. Natixis increased its position in Energy Transfer by 20.0% in the first quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock worth $283,463,000 after buying an additional 2,999,300 shares during the period. Westwood Holdings Group Inc. lifted its stake in Energy Transfer by 1.1% in the second quarter. Westwood Holdings Group Inc. now owns 16,107,470 shares of the pipeline company’s stock valued at $261,263,000 after buying an additional 171,720 shares during the last quarter. Chickasaw Capital Management LLC boosted its holdings in shares of Energy Transfer by 3.1% during the third quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company’s stock valued at $246,376,000 after acquiring an additional 466,565 shares during the period. Finally, Merewether Investment Management LP grew its position in shares of Energy Transfer by 22.3% during the second quarter. Merewether Investment Management LP now owns 6,591,793 shares of the pipeline company’s stock worth $106,919,000 after acquiring an additional 1,200,501 shares during the last quarter. 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.