Energy Transfer (NYSE:ET) Trading Down 0.5%

Energy Transfer LP (NYSE:ET)’s share price traded down 0.5% during trading on Tuesday . The company traded as low as $15.69 and last traded at $15.73. 1,905,060 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 13,377,540 shares. The stock had previously closed at $15.81.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ET. UBS Group upped their price target on shares of Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. JPMorgan Chase & Co. raised their price target 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 lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Finally, Mizuho upped 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. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and an average target price of $19.29.

Energy Transfer Trading Up 0.1 %

The business’s 50-day simple moving average is $16.07 and its two-hundred day simple moving average is $15.76. 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 stock has a market capitalization of $53.38 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 0.47 and a beta of 1.66.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The company had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $22.01 billion. During the same quarter in the previous year, the business posted $0.25 earnings per share. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, research analysts anticipate that Energy Transfer LP will post 1.4 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were paid a $0.32 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, August 9th. This represents a $1.28 annualized dividend and a dividend yield of 8.08%. Energy Transfer’s payout ratio is 117.43%.

Insider Activity

In other news, Director Kelcy L. Warren bought 3,000,000 shares of Energy Transfer stock in a transaction on 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 acquisition, the director now directly owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Thomas E. Long purchased 20,000 shares of Energy Transfer stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the acquisition, 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 available through this hyperlink. Also, Director Kelcy L. Warren bought 3,000,000 shares of Energy Transfer stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the purchase, the director now directly owns 123,385,650 shares in the company, valued at $1,934,686,992. The disclosure for this purchase can be found here. In the last three months, insiders acquired 3,040,000 shares of company stock worth $47,667,200. 3.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Energy Transfer

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. LRI Investments LLC acquired a new position in Energy Transfer during the 1st quarter valued at about $29,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in Energy Transfer in the 4th quarter valued at about $33,000. HWG Holdings LP bought a new position in shares of Energy Transfer during the 2nd quarter valued at about $33,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Energy Transfer in the 4th quarter worth approximately $34,000. Finally, Adirondack Trust Co. bought a new stake in shares of Energy Transfer in the 4th quarter worth approximately $42,000. 38.22% of the stock is owned by institutional investors.

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.