Energy Transfer (NYSE:ET) Shares Down 0.3% – Here’s What Happened

Energy Transfer LP (NYSE:ET) fell 0.3% during trading on Tuesday . The stock traded as low as $16.06 and last traded at $16.17. 1,212,785 shares changed hands during trading, a decline of 91% from the average session volume of 13,143,265 shares. The stock had previously closed at $16.22.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Morgan Stanley lifted their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Mizuho upped their price target on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. UBS Group increased their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Energy Transfer has an average rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Stock Down 0.2 %

The company has a market capitalization of $54.56 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 0.50 and a beta of 1.66. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38. The firm’s 50 day simple moving average is $16.03 and its 200-day simple moving average is $15.90.

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 analysts’ consensus estimates of $0.36 by ($0.01). The business had revenue of $20.73 billion during 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%. Energy Transfer’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 EPS. On average, sell-side analysts anticipate 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. Investors of record on Friday, August 9th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a yield of 7.91%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 117.43%.

Insider Activity

In other news, CEO Thomas E. Long purchased 20,000 shares of the company’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 $313,600.00. Following the completion of the transaction, the chief executive officer now directly owns 4,308,859 shares in the company, valued at $67,562,909.12. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. In related news, Director Kelcy L. Warren bought 3,000,000 shares of the 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 $47,040,000.00. Following the acquisition, the director now owns 123,385,650 shares in the company, valued at $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Thomas E. Long purchased 20,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $15.68 per share, with a total value of $313,600.00. Following the transaction, 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 disclosure for this purchase can be found here. In the last three months, insiders purchased 3,040,000 shares of company stock worth $47,667,200. Company insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Energy Transfer

A number of institutional investors have recently modified their holdings of ET. Connectus Wealth LLC increased its stake in Energy Transfer by 2.7% in the fourth quarter. Connectus Wealth LLC now owns 171,229 shares of the pipeline company’s stock valued at $2,363,000 after purchasing an additional 4,571 shares during the last quarter. Evercore Wealth Management LLC acquired a new position in shares of Energy Transfer during the 4th quarter valued at about $159,000. XML Financial LLC lifted its holdings in shares of Energy Transfer by 2.9% during the 4th quarter. XML Financial LLC now owns 42,262 shares of the pipeline company’s stock worth $583,000 after acquiring an additional 1,179 shares during the period. Icon Wealth Advisors LLC purchased a new stake in Energy Transfer in the fourth quarter valued at approximately $2,322,000. Finally, BOKF NA increased its position in Energy Transfer by 0.5% during the fourth quarter. BOKF NA now owns 642,538 shares of the pipeline company’s stock worth $8,867,000 after purchasing an additional 3,252 shares during the last quarter. Institutional investors and hedge funds 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.