Energy Transfer (NYSE:ET) Stock Price Down 0.2%

Energy Transfer LP (NYSE:ET)’s stock price dropped 0.2% on Thursday . The stock traded as low as $15.98 and last traded at $16.02. Approximately 3,512,655 shares were traded during trading, a decline of 73% from the average daily volume of 13,189,029 shares. The stock had previously closed at $16.05.

Wall Street Analyst Weigh In

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

Energy Transfer Price Performance

The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92. The business has a fifty day moving average of $16.02 and a 200 day moving average of $15.88. The stock has a market cap of $54.80 billion, a PE ratio of 14.70, a P/E/G ratio of 0.50 and a beta of 1.66.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The company had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 EPS. Sell-side analysts anticipate that Energy Transfer LP will post 1.35 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were paid a dividend of $0.32 per share. The ex-dividend date was Friday, August 9th. This represents a $1.28 annualized dividend and a yield of 7.87%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is presently 117.43%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Energy Transfer

Several hedge funds have recently modified their holdings of ET. LRI Investments LLC bought a new position in shares of Energy Transfer in the first quarter valued at $29,000. HWG Holdings LP purchased a new stake in Energy Transfer in the 2nd quarter worth about $33,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Energy Transfer during the fourth quarter worth approximately $34,000. Hudson Edge Investment Partners Inc. acquired a new stake in shares of Energy Transfer during the 2nd quarter valued at $42,000. Finally, EdgeRock Capital LLC acquired a new stake in Energy Transfer during the second quarter valued at $42,000. 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.