Energy Transfer (NYSE:ET) Shares Down 0.4% – Time to Sell?

Energy Transfer LP (NYSE:ET)’s stock price dropped 0.4% during trading on Tuesday . The company traded as low as $16.32 and last traded at $16.48. Approximately 3,140,506 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 13,083,410 shares. The stock had previously closed at $16.55.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ET. JPMorgan Chase & Co. raised their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Royal Bank of Canada raised their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday. Bank of America began coverage on shares of Energy Transfer in a report on Thursday. They issued a “buy” rating and a $20.00 target price on the stock. Finally, UBS Group raised their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $20.00.

Energy Transfer Stock Performance

The stock has a fifty day moving average price of $16.09 and a two-hundred day moving average price of $15.94. The company has a market cap of $55.57 billion, a P/E ratio of 15.14, a PEG ratio of 0.50 and a beta of 1.66. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92.

Energy Transfer (NYSE:ET) last released 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). The business had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period last year, the firm posted $0.25 EPS. On average, equities analysts forecast that Energy Transfer LP will post 1.35 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 7.76%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 9th. Energy Transfer’s dividend payout ratio is 117.43%.

Insiders Place Their Bets

In other news, EVP Gregory G. Mcilwain bought 20,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was purchased at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the transaction, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Kelcy L. Warren purchased 3,000,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were bought at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the acquisition, the director now owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Gregory G. Mcilwain purchased 20,000 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was bought at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at $9,270,188.48. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 3,040,000 shares of company stock worth $47,667,200 over the last ninety days. Company insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. LRI Investments LLC acquired a new stake in Energy Transfer during the 1st quarter valued at $29,000. HWG Holdings LP acquired a new stake in Energy Transfer during the 2nd quarter valued at $33,000. Sugarloaf Wealth Management LLC raised its stake in Energy Transfer by 43.6% during the 3rd 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 period. EdgeRock Capital LLC acquired a new stake in Energy Transfer during the 2nd quarter valued at $42,000. Finally, Hudson Edge Investment Partners Inc. acquired a new stake in Energy Transfer during the 2nd quarter valued at $42,000. Institutional investors own 38.22% of the company’s stock.

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.