Energy Transfer (NYSE:ET) Shares Down 0.2%

Energy Transfer LP (NYSE:ET)’s share price fell 0.2% on Thursday . The stock traded as low as $15.79 and last traded at $15.85. 2,015,931 shares were traded during trading, a decline of 85% from the average session volume of 13,435,511 shares. The stock had previously closed at $15.88.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Mizuho upped their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. UBS Group lifted their price objective on Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Morgan Stanley increased their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Finally, Stifel Nicolaus lifted their price target on Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.29.

Energy Transfer Stock Performance

The company has a 50 day moving average of $16.08 and a two-hundred day moving average of $15.66. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00. The company has a market capitalization of $53.62 billion, a PE ratio of 14.54, a PEG ratio of 0.42 and a beta of 1.66.

Energy Transfer (NYSE:ET) last posted 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). Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The company had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $22.01 billion. During the same period last year, the business earned $0.25 EPS. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. As a group, equities research analysts predict that Energy Transfer LP will post 1.49 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were issued a $0.32 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a yield of 8.05%. The ex-dividend date of this dividend was Friday, August 9th. Energy Transfer’s payout ratio is presently 117.43%.

Insiders Place Their Bets

In other Energy Transfer news, EVP Gregory G. Mcilwain bought 20,000 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now owns 591,211 shares in the company, valued at $9,270,188.48. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Kelcy L. Warren acquired 3,000,000 shares of Energy Transfer stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the transaction, the director now owns 123,385,650 shares in the company, valued at $1,934,686,992. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregory G. Mcilwain purchased 20,000 shares of Energy Transfer stock in a transaction dated Friday, August 23rd. The shares were acquired at an average cost of $15.68 per share, with a total value of $313,600.00. Following the transaction, the executive vice president now directly owns 591,211 shares in the company, valued at $9,270,188.48. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 3,040,000 shares of company stock valued at $47,667,200. Corporate insiders own 3.28% of the company’s stock.

Institutional Trading of Energy Transfer

Hedge funds and other institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC raised its position in shares of Energy Transfer by 12.1% during the 4th quarter. International Assets Investment Management LLC now owns 272,243 shares of the pipeline company’s stock valued at $3,757,000 after purchasing an additional 29,483 shares during the period. Truist Financial Corp boosted its stake in shares of Energy Transfer by 0.4% in the fourth quarter. Truist Financial Corp now owns 925,211 shares of the pipeline company’s stock worth $12,768,000 after acquiring an additional 3,278 shares during the period. Choreo LLC boosted its stake in shares of Energy Transfer by 73.6% in the fourth quarter. Choreo LLC now owns 28,678 shares of the pipeline company’s stock worth $396,000 after acquiring an additional 12,160 shares during the period. Van ECK Associates Corp grew its position in shares of Energy Transfer by 2.8% during the fourth quarter. Van ECK Associates Corp now owns 200,881 shares of the pipeline company’s stock worth $2,772,000 after purchasing an additional 5,420 shares in the last quarter. Finally, Certuity LLC bought a new stake in Energy Transfer during the 4th quarter valued at approximately $295,000. 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.