Energy Transfer (NYSE:ET) Trading Down 0.2%

Energy Transfer LP (NYSE:ET) shares traded down 0.2% during mid-day trading on Tuesday . The company traded as low as $16.23 and last traded at $16.25. 2,103,373 shares traded hands during trading, a decline of 84% from the average session volume of 13,271,143 shares. The stock had previously closed at $16.28.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ET. JPMorgan Chase & Co. raised their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. Mizuho raised their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. UBS Group lifted their price target on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Morgan Stanley increased their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $19.14.

Energy Transfer Price Performance

The business’s 50-day simple moving average is $16.05 and its 200 day simple moving average is $15.84. The company has a market capitalization of $54.66 billion, a P/E ratio of 14.91, a P/E/G ratio of 0.46 and a beta of 1.66. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (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 firm had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. During the same quarter last year, the business posted $0.25 earnings per share. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Energy Transfer LP will post 1.4 EPS for the current year.

Energy Transfer Increases Dividend

The business 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. The ex-dividend date was Friday, August 9th. This represents a $1.28 annualized dividend and a dividend yield of 7.89%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 117.43%.

Insider Activity

In other news, CEO Thomas E. Long bought 20,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the transaction, the chief executive officer now directly owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Thomas E. Long bought 20,000 shares of the firm’s stock in a transaction on 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 purchase, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kelcy L. Warren purchased 3,000,000 shares of the business’s stock in a transaction dated 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. Insiders purchased a total of 3,040,000 shares of company stock valued at $47,667,200 over the last three months. Insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Energy Transfer

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Reserve GP XIII Ltd acquired a new position in Energy Transfer during the 4th quarter worth $322,097,000. Tortoise Capital Advisors L.L.C. increased its position in Energy Transfer by 12.7% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock worth $594,769,000 after buying an additional 4,141,715 shares during the period. Natixis boosted its position in shares of Energy Transfer by 20.0% in the first quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock valued at $283,463,000 after acquiring an additional 2,999,300 shares during the period. Allianz Asset Management GmbH grew its stake in shares of Energy Transfer by 117.3% in the fourth quarter. Allianz Asset Management GmbH now owns 3,867,998 shares of the pipeline company’s stock worth $53,378,000 after acquiring an additional 2,088,356 shares during the last quarter. Finally, Crestline Management LP bought a new position in Energy Transfer during the fourth quarter worth $27,600,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

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.