Energy Transfer (NYSE:ET) Stock Price Down 0.1%

Energy Transfer LP (NYSE:ET)’s stock price was down 0.1% during trading on Monday . The stock traded as low as $15.98 and last traded at $16.05. Approximately 1,507,086 shares traded hands during trading, a decline of 89% from the average daily volume of 13,226,985 shares. The stock had previously closed at $16.07.

Analyst Ratings Changes

Several analysts have commented on the company. JPMorgan Chase & Co. increased their target price 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 target price on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Morgan Stanley raised 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. Finally, UBS Group raised their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.14.

Energy Transfer Stock Down 0.5 %

The business’s 50 day moving average is $16.04 and its 200 day moving average is $15.87. 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 company has a market cap of $53.89 billion, a P/E ratio of 14.72, a P/E/G ratio of 0.50 and a beta of 1.66.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 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 company had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $22.01 billion. During the same period in the previous year, the business earned $0.25 earnings per share. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, 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 disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were paid a $0.32 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 8.01%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is presently 117.43%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Energy Transfer

Institutional investors and hedge funds have recently made changes to their positions in the stock. LRI Investments LLC purchased a new stake in shares of Energy Transfer during the first quarter worth $29,000. HWG Holdings LP purchased a new stake in shares of Energy Transfer during the second quarter worth $33,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Energy Transfer during the fourth quarter worth $34,000. Adirondack Trust Co. purchased a new position in Energy Transfer in the fourth quarter valued at $42,000. Finally, EdgeRock Capital LLC purchased a new position in Energy Transfer in the second quarter valued at $42,000. 38.22% of the stock is 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.