Energy Transfer (NYSE:ET) Shares Down 1.1% – Here’s What Happened

by · The Markets Daily

Energy Transfer LP (NYSE:ET – Get Free Report) 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 traded hands during mid-day trading, a decline of 19% from the average session volume of 12,580,968 shares. The stock had previously closed at $20.10.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group restated a “buy” rating on shares of Energy Transfer in a report on Wednesday, August 5th. Morgan Stanley increased their target price on Energy Transfer from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 18th. Capital One Financial initiated coverage on Energy Transfer in a research note on Tuesday, September 22nd. They issued an “overweight” rating and a $26.00 price target on the stock. Weiss Ratings upgraded Energy Transfer from a “buy (b)” rating to a “buy (a-)” rating in a report on Tuesday, September 8th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Energy Transfer currently has an average rating of “Moderate Buy” and a consensus price target of $24.36.

Get Our Latest Analysis on ET

Energy Transfer Stock Down 0.6%

The firm has a market capitalization of $67.68 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 0.67 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 firm has a 50-day moving average of $20.87 and a two-hundred day moving average of $19.92.

Energy Transfer (NYSE:ET – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.21. The firm had revenue of $34.33 billion during 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 firm’s quarterly revenue was up 78.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.32 earnings per share. On average, equities research analysts forecast that Energy Transfer LP will post 1.73 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Friday, August 7th were given a dividend of $0.34 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.3375. The ex-dividend date of this dividend was Friday, August 7th. This represents a $1.36 dividend on an annualized basis and a yield of 6.9%. Energy Transfer’s dividend payout ratio is currently 92.52%.

Insider Activity at Energy Transfer

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

Institutional Trading of Energy Transfer

A number of institutional investors have recently added to or reduced their stakes in ET. Summit Securities Group LLC boosted its holdings in Energy Transfer by 179.0% in the 1st quarter. Summit Securities Group LLC now owns 162,100 shares of the pipeline company’s stock worth $3,129,000 after acquiring an additional 104,000 shares during the period. North Star Investment Management Corp. raised its stake in shares of Energy Transfer by 39.0% during the first quarter. North Star Investment Management Corp. now owns 224,439 shares of the pipeline company’s stock valued at $4,332,000 after purchasing an additional 62,916 shares during the period. Mizuho Markets Americas LLC purchased a new stake in shares of Energy Transfer during the first quarter valued at approximately $61,760,000. Sanctuary Advisors LLC lifted its position in shares of Energy Transfer by 15.8% during the first quarter. Sanctuary Advisors LLC now owns 1,888,661 shares of the pipeline company’s stock worth $36,451,000 after purchasing an additional 257,954 shares in the last quarter. Finally, Independent Financial Group LLC purchased a new position in shares of Energy Transfer in the first quarter valued at $2,170,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

About Energy Transfer

(Get Free Report)

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.

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