Energy Transfer (NYSE:ET) Trading Down 0.4% – Here’s What Happened

Energy Transfer LP (NYSE:ET)’s share price dropped 0.4% during trading on Tuesday . The stock traded as low as $16.32 and last traded at $16.48. Approximately 3,140,506 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 13,083,410 shares. The stock had previously closed at $16.55.

Analyst Ratings Changes

ET has been the topic of a number of recent research reports. 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 research note on Thursday, June 20th. UBS Group boosted their price target on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Mizuho raised their price objective on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $20.00.

Energy Transfer Stock Performance

The firm’s fifty day simple moving average is $16.07 and its 200 day simple moving average is $15.93. The company has a market capitalization of $55.44 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The firm had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. During the same period in the previous year, the business earned $0.25 EPS. Energy Transfer’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, research analysts predict that Energy Transfer LP will post 1.35 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders 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 annualized dividend and a yield of 7.78%. The ex-dividend date was Friday, August 9th. Energy Transfer’s dividend payout ratio (DPR) is presently 117.43%.

Insider Activity

In related news, Director Kelcy L. Warren bought 3,000,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were acquired 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 directly owns 123,385,650 shares in the company, valued at $1,934,686,992. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost 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 of the company’s stock, valued at $1,934,686,992. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Thomas E. Long acquired 20,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the acquisition, the chief executive officer now owns 4,308,859 shares in the company, valued at $67,562,909.12. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 3,040,000 shares of company stock worth $47,667,200 in the last quarter. Corporate insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Rehmann Capital Advisory Group boosted its stake in shares of Energy Transfer by 2.0% in the 1st quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock valued at $505,000 after buying an additional 633 shares during the period. Veracity Capital LLC lifted its position in shares of Energy Transfer by 2.0% during the 2nd quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock worth $545,000 after purchasing an additional 659 shares during the last quarter. Sfmg LLC grew its stake in shares of Energy Transfer by 2.2% during the first quarter. Sfmg LLC now owns 31,406 shares of the pipeline company’s stock worth $494,000 after purchasing an additional 674 shares in the last quarter. Morton Capital Management LLC CA increased its holdings in Energy Transfer by 1.6% in the second quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock valued at $720,000 after buying an additional 699 shares during the last quarter. Finally, FinTrust Capital Advisors LLC raised its stake in Energy Transfer by 3.6% in the first quarter. FinTrust Capital Advisors LLC now owns 20,201 shares of the pipeline company’s stock valued at $318,000 after buying an additional 700 shares in the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

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.