Energy Transfer (NYSE:ET) Stock Price Down 1.1% – Here’s Why

Energy Transfer LP (NYSE:ET) shares fell 1.1% on Tuesday. The stock traded as low as $19.77 and last traded at $19.8850. Approximately 10,236,700 shares were traded during mid-day trading, a decline of 19% from the average daily volume of 12,580,968 shares. The stock had previously closed at $20.10.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ET shares. Stifel Nicolaus started coverage on shares of Energy Transfer in a report on Thursday, September 10th. They issued a “buy” rating and a $25.00 price target for the company. Jefferies Financial Group reiterated a “buy” rating on shares of Energy Transfer in a report on Wednesday, August 5th. Morgan Stanley increased their price target on Energy Transfer from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 18th. Wall Street Zen raised Energy Transfer from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, TD Cowen reiterated a “buy” rating and set a $25.00 price objective (up from $24.00) on shares of Energy Transfer in a report on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus target price of $24.36.

Energy Transfer Stock Performance

The stock has a market capitalization of $68.47 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 0.68 and a beta of 0.57. The company has a current ratio of 1.16, a quick ratio of 0.94 and a debt-to-equity ratio of 1.45. The stock’s 50 day moving average is $20.89 and its two-hundred day moving average is $19.90.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.21. The firm had revenue of $34.33 billion for the quarter, compared to the consensus estimate of $27.71 billion. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%.The company’s revenue for the quarter was up 78.4% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS. Analysts expect that Energy Transfer LP will post 1.73 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Friday, August 7th were issued a dividend of $0.34 per share. The ex-dividend date was Friday, August 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.3375. This represents a $1.36 dividend on an annualized basis and a dividend yield of 6.8%. Energy Transfer’s dividend payout ratio is 92.52%.

Insider Activity at Energy Transfer

In other news, Director James Perry bought 12,359 shares of the business’s stock in a transaction on Friday, August 7th. The shares were purchased at an average price of $20.23 per share, for a total transaction of $250,022.57. Following the purchase, the director owned 208,046 shares of the company’s stock, valued at approximately $4,208,770.58. The trade was a 6.32% 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 Warren purchased 647,968 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were acquired at an average cost of $21.26 per share, with a total value of $13,775,799.68. Following the completion of the purchase, the director directly owned 147,901,879 shares in the company, valued at approximately $3,144,393,947.54. This represents a 0.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 1,012,359 shares of company stock worth $21,513,543 in the last 90 days. Company insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Energy Transfer

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Osbon Capital Management LLC acquired a new stake in shares of Energy Transfer in the second quarter valued at about $25,000. Cassaday & Co Wealth Management LLC acquired a new position in Energy Transfer during the first quarter valued at approximately $35,000. Sarver Vrooman Wealth Advisors bought a new position in Energy Transfer in the fourth quarter valued at approximately $32,000. Financial Life Planners acquired a new position in shares of Energy Transfer during the 1st quarter worth approximately $40,000. Finally, Bullseye Investment Management LLC bought a new stake in shares of Energy Transfer during the 2nd quarter worth approximately $42,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

About Energy Transfer

Energy Transfer LP is a diversified energy infrastructure company headquartered in Dallas, Texas. The partnership owns and operates a broad network of pipelines, processing facilities, storage assets and terminals that support the movement of natural gas, natural gas liquids, crude oil and refined products across the United States.

The company’s operations include gathering and processing natural gas, transporting and storing natural gas and NGLs, fractionating NGLs into component products, and transporting crude oil and refined products.