Energy Transfer (NYSE:ET) Trading Down 0.2%

Energy Transfer LP (NYSE:ET)’s share price traded down 0.2% during trading on Wednesday . The company traded as low as $16.13 and last traded at $16.17. 2,737,320 shares changed hands during trading, a decline of 79% from the average session volume of 13,257,831 shares. The stock had previously closed at $16.21.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their target price 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 raised their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Morgan Stanley boosted their price target on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Finally, Mizuho raised their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.14.

Energy Transfer Trading Down 0.7 %

The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14. The firm has a market capitalization of $55.10 billion, a price-to-earnings ratio of 14.83, a P/E/G ratio of 0.50 and a beta of 1.66. The business has a fifty day moving average price of $16.05 and a 200 day moving average price of $15.85.

Energy Transfer (NYSE:ET) last released its quarterly earnings data 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). 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 business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 earnings per share. As a group, equities analysts forecast that Energy Transfer LP will post 1.35 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were issued a $0.32 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a yield of 7.95%. The ex-dividend date was Friday, August 9th. Energy Transfer’s dividend payout ratio is currently 117.43%.

Insider Activity at Energy Transfer

In other Energy Transfer news, CEO Thomas E. Long bought 20,000 shares of the stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the purchase, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Kelcy L. Warren purchased 3,000,000 shares of Energy Transfer stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the acquisition, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas E. Long acquired 20,000 shares of Energy Transfer stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the transaction, the chief executive officer now owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 3,040,000 shares of company stock worth $47,667,200. 3.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

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.