Energy Transfer (NYSE:ET) Trading Down 1.5% – What’s Next?

Energy Transfer LP (NYSE:ET)’s stock price traded down 1.5% on Monday . The company traded as low as $17.19 and last traded at $17.20. 11,587,954 shares changed hands during trading, a decline of 22% from the average session volume of 14,888,131 shares. The stock had previously closed at $17.46.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. TD Cowen assumed coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a “buy” rating and a $22.00 target price for the company. Scotiabank assumed coverage on shares of Energy Transfer in a research report on Tuesday, September 2nd. They set a “sector outperform” rating and a $23.00 target price for the company. Cowen assumed coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a “buy” rating for the company. Morgan Stanley dropped their target price on shares of Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Tuesday, August 26th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $23.00 target price (up previously from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Thirteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and an average price target of $22.50.

Energy Transfer Trading Down 1.5%

The firm has a market cap of $59.04 billion, a PE ratio of 13.33, a P/E/G ratio of 1.03 and a beta of 0.85. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. The company’s 50 day moving average price is $17.52 and its two-hundred day moving average price is $17.59.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The business had revenue of $19.24 billion for the quarter, compared to the consensus estimate of $24.07 billion. During the same quarter in the prior year, the firm posted $0.35 earnings per share. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were issued a $0.33 dividend. The ex-dividend date was Friday, August 8th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.7%. Energy Transfer’s dividend payout ratio (DPR) is currently 102.33%.

Insider Activity at Energy Transfer

In related news, Director Kelcy L. Warren purchased 1,350,000 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were purchased at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the acquisition, the director owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. This trade represents a 1.99% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 3.28% of the company’s stock.

Institutional Trading of Energy Transfer

A number of institutional investors have recently modified their holdings of the company. Ryan Investment Management Inc. purchased a new position in shares of Energy Transfer during the 2nd quarter valued at approximately $31,000. Vision Financial Markets LLC acquired a new stake in Energy Transfer in the 1st quarter valued at $33,000. CNB Bank grew its stake in Energy Transfer by 111.1% in the 2nd quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 1,000 shares during the period. Stone House Investment Management LLC acquired a new stake in Energy Transfer in the 1st quarter valued at $38,000. Finally, HWG Holdings LP acquired a new stake in Energy Transfer in the 1st quarter valued at $38,000. 38.22% of the stock is currently owned by institutional investors.

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.