Energy Transfer (NYSE:ET) Stock Price Down 0.9%

Energy Transfer LP (NYSE:ET)’s stock price traded down 0.9% on Tuesday . The stock traded as low as $16.15 and last traded at $16.16. 1,949,038 shares were traded during trading, a decline of 86% from the average session volume of 13,583,857 shares. The stock had previously closed at $16.30.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Morgan Stanley raised their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Stifel Nicolaus raised their price objective on Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. UBS Group raised their target price on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. JPMorgan Chase & Co. raised their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. Finally, Mizuho raised their target price on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Energy Transfer currently has an average rating of “Moderate Buy” and a consensus target price of $19.29.

Energy Transfer Trading Down 1.4 %

The firm has a fifty day moving average of $16.01 and a two-hundred day moving average of $15.57. The company has a market cap of $54.16 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 0.42 and a beta of 1.66. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). The firm had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $22.01 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The company’s revenue was up 13.1% compared to the same quarter last year. During the same period last year, the business posted $0.25 EPS. As a group, sell-side analysts predict that Energy Transfer LP will post 1.49 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 7.97%. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is presently 117.43%.

Insider Buying and Selling at Energy Transfer

In related news, Director Kelcy L. Warren bought 3,000,000 shares of Energy Transfer stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the acquisition, the director now directly owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Energy Transfer news, CEO Thomas E. Long purchased 20,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the transaction, the chief executive officer now owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kelcy L. Warren purchased 3,000,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the transaction, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The disclosure for this purchase can be found here. Insiders own 3.28% of the company’s stock.

Institutional Trading of Energy Transfer

A number of hedge funds have recently bought and sold shares of the company. Old North State Trust LLC lifted its position in Energy Transfer by 8.0% in the 2nd quarter. Old North State Trust LLC now owns 18,946 shares of the pipeline company’s stock worth $307,000 after buying an additional 1,399 shares during the last quarter. HWG Holdings LP bought a new stake in Energy Transfer in the second quarter valued at approximately $33,000. EP Wealth Advisors LLC lifted its position in Energy Transfer by 3.3% in the second quarter. EP Wealth Advisors LLC now owns 40,794 shares of the pipeline company’s stock valued at $662,000 after purchasing an additional 1,315 shares during the last quarter. Invst LLC lifted its position in Energy Transfer by 26.4% in the second quarter. Invst LLC now owns 17,647 shares of the pipeline company’s stock valued at $289,000 after purchasing an additional 3,683 shares during the last quarter. Finally, Sunbelt Securities Inc. lifted its position in Energy Transfer by 2.2% in the second quarter. Sunbelt Securities Inc. now owns 274,095 shares of the pipeline company’s stock valued at $4,446,000 after purchasing an additional 5,820 shares during the last quarter. Institutional investors 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.