Energy Transfer (NYSE:ET) Stock Price Down 0.1% – What’s Next?

Energy Transfer LP (NYSE:ET)’s stock price fell 0.1% on Friday . The stock traded as low as $16.44 and last traded at $16.47. 1,812,769 shares were traded during trading, a decline of 86% from the average session volume of 13,086,245 shares. The stock had previously closed at $16.49.

Analysts Set New Price Targets

Several research analysts recently commented on the company. UBS Group raised their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Royal Bank of Canada increased their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Finally, Bank of America started coverage on Energy Transfer in a research report on Thursday. They issued a “buy” rating and a $20.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, Energy Transfer presently has an average rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Trading Down 0.7 %

The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38. The business’s fifty day moving average is $16.09 and its two-hundred day moving average is $15.94. The firm has a market cap of $55.20 billion, a price-to-earnings ratio of 15.11, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66.

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 firm had revenue of $20.73 billion during 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%. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period last year, the business posted $0.25 earnings per share. Equities analysts anticipate that Energy Transfer LP will post 1.35 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 7.81%. The ex-dividend date was Friday, August 9th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is 117.43%.

Insider Buying and Selling

In related news, CEO Thomas E. Long purchased 20,000 shares of Energy Transfer stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $15.68 per share, for a total transaction 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 approximately $67,562,909.12. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Thomas E. Long purchased 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $15.68 per share, for a total transaction 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 approximately $67,562,909.12. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the acquisition, the director now owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 3,040,000 shares of company stock valued at $47,667,200 over the last ninety days. Insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Berkley W R Corp lifted its holdings in shares of Energy Transfer by 11.6% during the 1st quarter. Berkley W R Corp now owns 5,334,494 shares of the pipeline company’s stock valued at $83,912,000 after purchasing an additional 555,445 shares in the last quarter. NBC Securities Inc. lifted its stake in Energy Transfer by 4.3% in the first quarter. NBC Securities Inc. now owns 56,366 shares of the pipeline company’s stock valued at $886,000 after buying an additional 2,326 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Energy Transfer by 491.3% in the first quarter. Cetera Investment Advisers now owns 1,290,364 shares of the pipeline company’s stock valued at $20,297,000 after buying an additional 1,072,144 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Energy Transfer by 2.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 549,971 shares of the pipeline company’s stock worth $8,651,000 after acquiring an additional 15,097 shares in the last quarter. Finally, Chickasaw Capital Management LLC raised its holdings in shares of Energy Transfer by 3.1% during the third quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company’s stock worth $246,376,000 after acquiring an additional 466,565 shares during the period. 38.22% of the stock is currently 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.