Energy Transfer (NYSE:ET) Trading Down 0.1%

Energy Transfer LP (NYSE:ET)’s share price was down 0.1% on Wednesday . The stock traded as low as $15.96 and last traded at $16.01. Approximately 2,750,425 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 13,315,562 shares. The stock had previously closed at $16.02.

Analyst Upgrades and Downgrades

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

Energy Transfer Stock Performance

The firm’s 50 day moving average price is $16.06 and its 200-day moving average price is $15.81. The firm has a market cap of $54.48 billion, a price-to-earnings ratio of 14.83, a P/E/G ratio of 0.46 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 released its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share 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 company had revenue of $20.73 billion during the quarter, compared to the consensus estimate of $22.01 billion. During the same quarter in the previous year, the business posted $0.25 EPS. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. On average, analysts anticipate that Energy Transfer LP will post 1.4 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were paid a $0.32 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.92%. Energy Transfer’s dividend payout ratio is currently 117.43%.

Insider Activity at Energy Transfer

In related news, EVP Gregory G. Mcilwain bought 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired 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 of the company’s stock, valued at $9,270,188.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Kelcy L. Warren acquired 3,000,000 shares of the firm’s stock in a transaction on 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 owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gregory G. Mcilwain acquired 20,000 shares of the company’s stock in a transaction dated 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 acquisition, the executive vice president now owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. 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 Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Berkley W R Corp increased its stake in shares of Energy Transfer by 11.6% in 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 buying an additional 555,445 shares during the period. NBC Securities Inc. increased its position in Energy Transfer by 4.3% in the first quarter. NBC Securities Inc. now owns 56,366 shares of the pipeline company’s stock worth $886,000 after purchasing an additional 2,326 shares during the period. US Bancorp DE raised its holdings in Energy Transfer by 95.8% during the 4th quarter. US Bancorp DE now owns 145,894 shares of the pipeline company’s stock worth $2,013,000 after purchasing an additional 71,386 shares during the last quarter. Cetera Investment Advisers lifted its position in Energy Transfer by 491.3% during the 1st quarter. Cetera Investment Advisers now owns 1,290,364 shares of the pipeline company’s stock valued at $20,297,000 after purchasing an additional 1,072,144 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Energy Transfer by 2.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 549,971 shares of the pipeline company’s stock worth $8,651,000 after buying an additional 15,097 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

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.