Energy Transfer (NYSE:ET) Trading Down 1% – What’s Next?

Energy Transfer LP (NYSE:ET) traded down 1% on Tuesday . The company traded as low as $16.24 and last traded at $16.2550. 14,097,094 shares were traded during mid-day trading, a decline of 7% from the average session volume of 15,140,903 shares. The stock had previously closed at $16.42.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Barclays reiterated an “overweight” rating and set a $25.00 target price on shares of Energy Transfer in a research note on Wednesday, October 15th. Jefferies Financial Group set a $17.00 price target on Energy Transfer and gave the company a “hold” rating in a report on Tuesday, October 28th. Morgan Stanley reduced their price objective on Energy Transfer from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Tuesday, December 2nd. Royal Bank Of Canada upgraded Energy Transfer to a “moderate buy” rating in a report on Monday, December 15th. Finally, UBS Group restated a “buy” rating and set a $22.00 target price on shares of Energy Transfer in a research note on Wednesday, October 15th. Thirteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Energy Transfer presently has a consensus rating of “Moderate Buy” and an average target price of $21.75.

Energy Transfer Stock Down 1.0%

The company has a market cap of $55.81 billion, a P/E ratio of 13.00, a price-to-earnings-growth ratio of 0.87 and a beta of 0.66. The company has a quick ratio of 1.14, a current ratio of 1.41 and a debt-to-equity ratio of 1.50. The company has a fifty day moving average of $16.60 and a 200 day moving average of $17.12.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). The firm had revenue of $19.95 billion during the quarter, compared to the consensus estimate of $21.84 billion. Energy Transfer had a net margin of 5.66% and a return on equity of 10.71%. The firm’s revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.32 EPS. On average, research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Friday, November 7th were paid a $0.3325 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, November 7th. This represents a $1.33 annualized dividend and a dividend yield of 8.2%. Energy Transfer’s dividend payout ratio (DPR) is currently 106.40%.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren bought 1,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was bought at an average cost of $16.95 per share, for a total transaction of $16,950,000.00. Following the completion of the transaction, the director owned 104,577,803 shares of the company’s stock, valued at $1,772,593,760.85. This represents a 0.97% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Ryan Investment Management Inc. bought a new position in Energy Transfer in the 2nd quarter worth $31,000. CNB Bank raised its stake 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 worth $34,000 after buying an additional 1,000 shares during the period. Financial Life Planners purchased a new position in shares of Energy Transfer during the 3rd quarter valued at about $34,000. HHM Wealth Advisors LLC grew its stake in shares of Energy Transfer by 54.4% during the 2nd quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 800 shares during the period. Finally, Crowley Wealth Management Inc. bought a new position in shares of Energy Transfer during the 2nd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Company Profile

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.