Energy Transfer (NYSE:ET) Trading Down 0.1% – Here’s Why

Shares of Energy Transfer LP (NYSE:ET) dropped 0.1% during trading on Friday . The stock traded as low as $16.44 and last traded at $16.47. Approximately 1,812,769 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 13,086,245 shares. The stock had previously closed at $16.49.

Analyst Upgrades and Downgrades

ET has been the topic of a number of recent research reports. Bank of America assumed coverage on Energy Transfer in a research note on Thursday. They issued a “buy” rating and a $20.00 target price on the stock. Royal Bank of Canada upped their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, UBS Group lifted their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $20.00.

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 company has a market capitalization of $55.30 billion, a PE ratio of 15.06, a P/E/G ratio of 0.50 and a beta of 1.66. The business has a fifty day moving average price of $16.11 and a 200 day moving average price of $15.95.

Energy Transfer (NYSE:ET) last announced 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). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The business had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. During the same period last year, the firm earned $0.25 earnings per share. The company’s quarterly revenue was up 13.1% on a year-over-year basis. Analysts expect that Energy Transfer LP will post 1.35 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were given a $0.32 dividend. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a yield of 7.80%. Energy Transfer’s dividend payout ratio (DPR) is 117.43%.

Insider Transactions at Energy Transfer

In other news, CEO Thomas E. Long acquired 20,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were bought at an average price 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 approximately $67,562,909.12. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Energy Transfer 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, for a total transaction of $313,600.00. Following the completion of the purchase, the chief executive officer now owns 4,308,859 shares in the company, valued at $67,562,909.12. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the 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 purchase, the director now owns 123,385,650 shares in the company, valued at $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 3,040,000 shares of company stock valued at $47,667,200 over the last quarter. Company insiders own 3.28% of the company’s stock.

Institutional Trading of Energy Transfer

Several institutional investors have recently added to or reduced their stakes in the stock. LRI Investments LLC acquired a new position in shares of Energy Transfer in the 1st quarter worth approximately $29,000. HWG Holdings LP acquired a new position in Energy Transfer in the second quarter worth $33,000. Sugarloaf Wealth Management LLC increased its stake in Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 750 shares during the last quarter. EdgeRock Capital LLC acquired a new stake in shares of Energy Transfer during the second quarter worth $42,000. Finally, Hudson Edge Investment Partners Inc. bought a new position in shares of Energy Transfer in the 2nd quarter worth about $42,000. 38.22% of the stock is 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.