Energy Transfer (NYSE:ET) Stock Price Down 0.1%

Energy Transfer LP (NYSE:ET) shares traded down 0.1% on Wednesday . The stock traded as low as $15.96 and last traded at $16.01. 2,750,425 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 13,315,562 shares. The stock had previously closed at $16.02.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ET. UBS Group upped their target price on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley increased their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Mizuho lifted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Finally, JPMorgan Chase & Co. upped 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. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $19.14.

Energy Transfer Trading Up 0.4 %

The firm has a market cap of $54.22 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 0.46 and a beta of 1.66. The company’s 50-day moving average price is $16.06 and its 200-day moving average price is $15.81. 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The firm had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The business’s revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 earnings per share. Equities analysts expect that Energy Transfer LP will post 1.4 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. Investors of record on Friday, August 9th were given a dividend of $0.32 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a yield of 7.96%. Energy Transfer’s dividend payout ratio (DPR) is presently 117.43%.

Insider Transactions at Energy Transfer

In other news, EVP Gregory G. Mcilwain purchased 20,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the purchase, the executive vice president now directly owns 591,211 shares in the company, valued at approximately $9,270,188.48. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other Energy Transfer news, EVP Gregory G. Mcilwain purchased 20,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the purchase, the executive vice president now directly owns 591,211 shares in the company, valued at approximately $9,270,188.48. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the transaction, the director now directly 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 have purchased a total of 3,040,000 shares of company stock worth $47,667,200 in the last quarter. Company insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Energy Transfer

Institutional investors and hedge funds have recently modified their holdings of the company. LRI Investments LLC acquired a new position in Energy Transfer during the 1st quarter worth approximately $29,000. HWG Holdings LP acquired a new position in shares of Energy Transfer during the 2nd quarter worth about $33,000. Ables Iannone Moore & Associates Inc. purchased a new position in Energy Transfer in the fourth quarter valued at approximately $34,000. Adirondack Trust Co. purchased a new position in Energy Transfer in the fourth quarter valued at approximately $42,000. Finally, EdgeRock Capital LLC acquired a new stake in Energy Transfer during the second quarter worth approximately $42,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

About Energy Transfer

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.