Energy Transfer (NYSE:ET) Stock Price Down 0.3% – Should You Sell?

Shares of Energy Transfer LP (NYSE:ET) fell 0.3% during trading on Tuesday . The stock traded as low as $16.28 and last traded at $16.35. 2,285,656 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 13,070,174 shares. The stock had previously closed at $16.40.

Wall Street Analyst Weigh In

A number of research analysts have commented on ET shares. Bank of America started coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. UBS Group raised their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Royal Bank of Canada boosted 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, October 16th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Energy Transfer presently has an average rating of “Buy” and an average target price of $20.00.

Energy Transfer Stock Performance

The company has a market cap of $55.30 billion, a PE ratio of 15.00, a PEG ratio of 0.50 and a beta of 1.66. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14. The firm’s 50 day moving average is $16.12 and its 200-day moving average is $15.95.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). The firm had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 earnings per share. On average, research analysts anticipate that Energy Transfer LP will post 1.35 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were issued a $0.32 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a dividend yield of 7.80%. The ex-dividend date of this dividend was Friday, August 9th. Energy Transfer’s dividend payout ratio is currently 117.43%.

Insider Buying and Selling

In other news, CEO Thomas E. Long acquired 20,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $15.68 per share, with a total value of $313,600.00. Following the transaction, the chief executive officer now owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Kelcy L. Warren bought 3,000,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the transaction, the director now directly 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 position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Thomas E. Long bought 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the transaction, the chief executive officer now directly owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 3,040,000 shares of company stock valued at $47,667,200 in the last ninety days. Company insiders own 3.28% of the company’s stock.

Institutional Trading of Energy Transfer

Hedge funds have recently made changes to their positions in the company. Tortoise Capital Advisors L.L.C. lifted its stake in shares of Energy Transfer by 12.7% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock valued at $594,769,000 after purchasing an additional 4,141,715 shares in the last quarter. Natixis lifted its position in Energy Transfer by 20.0% during the first quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock valued at $283,463,000 after buying an additional 2,999,300 shares in the last quarter. Payden & Rygel Investment Group purchased a new stake in Energy Transfer during the first quarter worth approximately $20,164,000. Merewether Investment Management LP increased its position in shares of Energy Transfer by 22.3% in the second quarter. Merewether Investment Management LP now owns 6,591,793 shares of the pipeline company’s stock worth $106,919,000 after acquiring an additional 1,200,501 shares in the last quarter. Finally, Progeny 3 Inc. raised its stake in shares of Energy Transfer by 104.6% in the 1st quarter. Progeny 3 Inc. now owns 2,205,785 shares of the pipeline company’s stock valued at $34,697,000 after acquiring an additional 1,127,500 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

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.