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

Shares of Energy Transfer LP (NYSE:ET) fell 1.1% during trading on Monday . The stock traded as low as $16.26 and last traded at $16.4050. 15,960,452 shares changed hands during trading, an increase of 2% from the average session volume of 15,602,348 shares. The stock had previously closed at $16.59.

Analysts Set New Price Targets

A number of analysts have issued reports on ET shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Energy Transfer in a research note on Wednesday, December 24th. Barclays reaffirmed an “overweight” rating and issued a $25.00 target price on shares of Energy Transfer in a report on Wednesday, October 15th. Jefferies Financial Group set a $17.00 target price on shares of Energy Transfer and gave the company a “hold” rating in a report on Tuesday, October 28th. Morgan Stanley dropped 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. Finally, UBS Group reissued a “buy” rating and set a $22.00 price objective on shares of Energy Transfer in a research note on Wednesday, October 15th. Thirteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.75.

Energy Transfer Stock Performance

The company has a debt-to-equity ratio of 1.50, a current ratio of 1.41 and a quick ratio of 1.14. The firm has a fifty day moving average price of $16.61 and a 200 day moving average price of $17.13. The firm has a market capitalization of $56.32 billion, a PE ratio of 13.12, a P/E/G ratio of 0.87 and a beta of 0.66.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data 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). Energy Transfer had a return on equity of 10.71% and a net margin of 5.66%.The firm had revenue of $19.95 billion during the quarter, compared to analyst estimates of $21.84 billion. During the same quarter in the previous year, the firm posted $0.32 earnings per share. Energy Transfer’s quarterly revenue was down 3.9% compared to the same quarter last year. Research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th were issued a dividend of $0.3325 per share. This is an increase 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 yield of 8.1%. Energy Transfer’s dividend payout ratio is 106.40%.

Insiders Place Their Bets

In other news, Director Kelcy L. Warren acquired 1,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was acquired at an average cost of $16.95 per share, for a total transaction of $16,950,000.00. Following the completion of the acquisition, the director owned 104,577,803 shares in the company, valued at $1,772,593,760.85. This represents a 0.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Energy Transfer

A number of large investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its holdings in shares of Energy Transfer by 93.4% in the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock valued at $481,000 after purchasing an additional 11,844 shares in the last quarter. Baird Financial Group Inc. grew its position in Energy Transfer by 42.1% in the first quarter. Baird Financial Group Inc. now owns 32,074 shares of the pipeline company’s stock valued at $596,000 after acquiring an additional 9,500 shares during the last quarter. AQR Capital Management LLC raised its stake in Energy Transfer by 62.8% during the first quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock worth $391,000 after acquiring an additional 8,118 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of Energy Transfer by 2.6% in the first quarter. Integrated Wealth Concepts LLC now owns 143,889 shares of the pipeline company’s stock worth $2,675,000 after acquiring an additional 3,711 shares during the last quarter. Finally, Talon Private Wealth LLC boosted its stake in shares of Energy Transfer by 1.6% in the 1st quarter. Talon Private Wealth LLC now owns 48,722 shares of the pipeline company’s stock valued at $906,000 after purchasing an additional 767 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

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.