Energy Transfer (NYSE:ET) Shares Down 1.6% – Time to Sell?
by Renee Jackson · The Cerbat GemShares of Energy Transfer LP (NYSE:ET – Get Free Report) dropped 1.6% during trading on Monday . The stock traded as low as $18.13 and last traded at $18.1550. Approximately 17,826,215 shares were traded during mid-day trading, an increase of 12% from the average daily volume of 15,982,005 shares. The stock had previously closed at $18.45.
Wall Street Analyst Weigh In
Several research firms recently weighed in on ET. Barclays reaffirmed an “overweight” rating and set a $22.00 target price (down from $25.00) on shares of Energy Transfer in a research note on Monday, January 12th. Morgan Stanley cut their price objective on Energy Transfer from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Tuesday, December 2nd. JPMorgan Chase & Co. reduced their target price on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Monday, November 24th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Energy Transfer in a research report on Wednesday, December 24th. Finally, Royal Bank Of Canada upgraded Energy Transfer to a “moderate buy” rating in a report on Monday, December 15th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.50.
Check Out Our Latest Research Report on Energy Transfer
Energy Transfer Trading Down 1.6%
The company’s fifty day simple moving average is $16.88 and its 200-day simple moving average is $17.08. The firm has a market capitalization of $62.33 billion, a PE ratio of 14.52, a P/E/G ratio of 0.96 and a beta of 0.66. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.41 and a quick ratio of 1.14.
Energy Transfer (NYSE:ET – Get Free Report) last released its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). The company had revenue of $19.95 billion for the quarter, compared to analysts’ expectations of $21.84 billion. Energy Transfer had a return on equity of 10.71% and a net margin of 5.66%.The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 EPS. As a group, sell-side analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.
Energy Transfer Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Friday, February 6th will be issued a dividend of $0.335 per share. The ex-dividend date of this dividend is Friday, February 6th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.34 dividend on an annualized basis and a dividend yield of 7.4%. Energy Transfer’s payout ratio is currently 106.40%.
Insider Buying and Selling at Energy Transfer
In other news, Director Kelcy L. Warren purchased 1,000,000 shares of the stock in a transaction dated Wednesday, November 19th. The shares were purchased at an average cost of $16.95 per share, with a total value of $16,950,000.00. Following the completion of the purchase, the director directly owned 104,577,803 shares of the company’s stock, valued at approximately $1,772,593,760.85. The trade was a 0.97% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.28% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. CNB Bank increased its holdings in shares of Energy Transfer by 111.1% in the second quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 1,000 shares during the last quarter. Financial Life Planners purchased a new stake in Energy Transfer in the 3rd quarter valued at $34,000. HHM Wealth Advisors LLC increased its stake in shares of Energy Transfer by 54.4% in the 2nd quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock worth $41,000 after acquiring an additional 800 shares during the last quarter. Core Alternative Capital acquired a new stake in shares of Energy Transfer in the 3rd quarter worth $46,000. Finally, FSC Wealth Advisors LLC purchased a new position in shares of Energy Transfer during the 2nd quarter worth $50,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.
About Energy Transfer
Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.
Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.