Energy Transfer (NYSE:ET) Shares Down 0.1%

Energy Transfer LP (NYSE:ET) fell 0.1% during mid-day trading on Monday . The stock traded as low as $15.98 and last traded at $16.05. 1,507,086 shares were traded during mid-day trading, a decline of 89% from the average session volume of 13,226,985 shares. The stock had previously closed at $16.07.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ET shares. JPMorgan Chase & Co. increased their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Morgan Stanley lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Mizuho raised their price target on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Finally, UBS Group raised 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. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $19.14.

Energy Transfer Trading Down 0.5 %

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 fifty day moving average of $16.04 and a 200 day moving average of $15.87. The firm has a market capitalization of $53.89 billion, a PE ratio of 14.72, a P/E/G ratio of 0.50 and a beta of 1.66.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data 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). The business had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. Energy Transfer’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 earnings per share. Equities research analysts expect that Energy Transfer LP will post 1.35 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared 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 positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a dividend yield of 8.01%. The ex-dividend date was Friday, August 9th. Energy Transfer’s dividend payout ratio is currently 117.43%.

Insider Transactions at Energy Transfer

In other news, CEO Thomas E. Long purchased 20,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Kelcy L. Warren acquired 3,000,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the acquisition, the director now owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas E. Long purchased 20,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the chief executive officer now directly owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. The disclosure for this purchase can be found here. Insiders have acquired 3,040,000 shares of company stock valued at $47,667,200 in the last quarter. Insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Energy Transfer

A number of large investors have recently added to or reduced their stakes in ET. Tortoise Capital Advisors L.L.C. lifted its position in shares of Energy Transfer by 12.7% during 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 purchasing an additional 4,141,715 shares during the last quarter. First Reserve GP XIII Ltd acquired a new stake in shares of Energy Transfer in the fourth quarter worth $322,097,000. Natixis increased its position in Energy Transfer by 20.0% during the first quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock worth $283,463,000 after acquiring an additional 2,999,300 shares during the period. Westwood Holdings Group Inc. raised its stake in Energy Transfer by 6.9% during the 4th quarter. Westwood Holdings Group Inc. now owns 16,785,510 shares of the pipeline company’s stock valued at $231,640,000 after purchasing an additional 1,085,240 shares during the last quarter. Finally, Chickasaw Capital Management LLC increased its holdings in shares of Energy Transfer by 2.9% during the 2nd quarter. Chickasaw Capital Management LLC now owns 14,883,956 shares of the pipeline company’s stock worth $241,418,000 after purchasing an additional 425,323 shares during the period. Institutional investors own 38.22% of the company’s stock.

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.