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

Energy Transfer LP (NYSE:ET) dropped 0.1% during mid-day trading on Friday . The company traded as low as $16.07 and last traded at $16.15. Approximately 1,709,064 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 13,284,222 shares. The stock had previously closed at $16.17.

Wall Street Analysts Forecast Growth

ET has been the topic of a number of research analyst reports. Mizuho raised their target price on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. JPMorgan Chase & Co. increased their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Morgan Stanley boosted their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Finally, UBS Group upped their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.14.

Energy Transfer Stock Up 0.2 %

The company’s fifty day simple moving average is $16.06 and its 200-day simple moving average is $15.81. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92. The firm has a market capitalization of $54.59 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 0.46 and a beta of 1.66.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 EPS. On average, analysts forecast that Energy Transfer LP will post 1.4 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were issued a dividend of $0.32 per share. The ex-dividend date was Friday, August 9th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.90%. Energy Transfer’s dividend payout ratio is currently 117.43%.

Insider Activity

In other news, CEO Thomas E. Long acquired 20,000 shares of Energy Transfer stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the chief executive officer now owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Energy Transfer news, CEO Thomas E. Long purchased 20,000 shares of Energy Transfer stock in a transaction that occurred on 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 directly owns 4,308,859 shares in the company, valued at $67,562,909.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kelcy L. Warren purchased 3,000,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the purchase, the director now directly owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 3,040,000 shares of company stock valued at $47,667,200. Company insiders own 3.28% of the company’s stock.

Institutional Trading of Energy Transfer

Several large investors have recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. grew its stake in shares of Energy Transfer by 12.7% in the second 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 in the last quarter. First Reserve GP XIII Ltd acquired a new stake in shares of Energy Transfer in the 4th quarter worth approximately $322,097,000. Natixis increased its stake in shares of Energy Transfer by 20.0% during the first quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock valued at $283,463,000 after acquiring an additional 2,999,300 shares during the period. Westwood Holdings Group Inc. raised its holdings in Energy Transfer by 6.9% during the fourth quarter. Westwood Holdings Group Inc. now owns 16,785,510 shares of the pipeline company’s stock worth $231,640,000 after purchasing an additional 1,085,240 shares in the last quarter. Finally, Chickasaw Capital Management LLC lifted its position in Energy Transfer by 2.9% in the second quarter. Chickasaw Capital Management LLC now owns 14,883,956 shares of the pipeline company’s stock worth $241,418,000 after purchasing an additional 425,323 shares during the period. 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.