Energy Transfer (NYSE:ET) Stock Price Down 0.8%

Energy Transfer LP (NYSE:ET) shares dropped 0.8% during trading on Wednesday . The stock traded as low as $15.66 and last traded at $15.70. Approximately 2,467,875 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 13,369,062 shares. The stock had previously closed at $15.83.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ET. JPMorgan Chase & Co. increased their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Mizuho upped their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Finally, Morgan Stanley lifted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus price target of $19.29.

Energy Transfer Stock Up 0.8 %

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 $54.74 billion, a P/E ratio of 14.67, a price-to-earnings-growth ratio of 0.46 and a beta of 1.66. The business has a 50 day moving average price of $16.06 and a 200 day moving average price of $15.76.

Energy Transfer (NYSE:ET) last released 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). The company had revenue of $20.73 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the company earned $0.25 earnings per share. On average, analysts predict that Energy Transfer LP will post 1.4 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 8.00%. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is 117.43%.

Insider Activity at Energy Transfer

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

Institutional Investors Weigh In On Energy Transfer

Hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC acquired a new position in Energy Transfer during the second quarter worth $13,070,000. Cetera Investment Advisers boosted its stake in shares of Energy Transfer by 4.2% during the 2nd quarter. Cetera Investment Advisers now owns 1,344,575 shares of the pipeline company’s stock worth $21,809,000 after buying an additional 54,211 shares during the last quarter. Granite Bay Wealth Management LLC bought a new position in shares of Energy Transfer in the 2nd quarter valued at about $1,598,000. Pathway Financial Advisers LLC raised its holdings in Energy Transfer by 4.6% during the second quarter. Pathway Financial Advisers LLC now owns 69,107 shares of the pipeline company’s stock worth $1,121,000 after acquiring an additional 3,024 shares in the last quarter. Finally, Old North State Trust LLC boosted its position in Energy Transfer by 8.0% during the second quarter. Old North State Trust LLC now owns 18,946 shares of the pipeline company’s stock valued at $307,000 after purchasing an additional 1,399 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

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.