Energy Transfer (NYSE:ET) Stock Price Down 1.1% – Time to Sell?

by · The Markets Daily

Energy Transfer LP (NYSE:ET – Get Free Report) shares traded down 1.1% during mid-day trading on Thursday . The stock traded as low as $16.19 and last traded at $16.2150. 16,125,409 shares changed hands during trading, an increase of 8% from the average session volume of 14,895,715 shares. The stock had previously closed at $16.39.

Analysts Set New Price Targets

A number of research firms recently commented on ET. Royal Bank Of Canada raised Energy Transfer to a “moderate buy” rating in a research note on Monday. Barclays reissued an “overweight” rating and issued a $25.00 target price on shares of Energy Transfer in a report on Wednesday, October 15th. Scotiabank cut their price target on shares of Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating for the company in a report on Thursday, November 13th. UBS Group reissued a “buy” rating and issued a $22.00 price objective on shares of Energy Transfer in a research note on Wednesday, October 15th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research note on Wednesday, October 8th. Thirteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus target price of $21.62.

View Our Latest Research Report on ET

Energy Transfer Stock Down 1.1%

The firm’s fifty day moving average is $16.68 and its 200-day moving average is $17.26. The company has a market capitalization of $55.67 billion, a P/E ratio of 12.97, a price-to-earnings-growth ratio of 0.99 and a beta of 0.65. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.14 and a current ratio of 1.41.

Energy Transfer (NYSE:ET – Get Free Report) last issued 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 company had revenue of $19.95 billion during the quarter, compared to analyst estimates of $21.84 billion. Energy Transfer had a net margin of 5.66% and a return on equity of 10.71%. The business’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 EPS. As a group, equities research analysts predict that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Friday, November 7th were given a dividend of $0.3325 per share. The ex-dividend date was Friday, November 7th. This represents a $1.33 dividend on an annualized basis and a yield of 8.2%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is presently 106.40%.

Insider Transactions at Energy Transfer

In other news, Director Kelcy L. Warren bought 1,000,000 shares of the company’s stock in a transaction on Wednesday, November 19th. The stock was purchased 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 trade represents a 0.97% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 3.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Ryan Investment Management Inc. acquired a new stake in Energy Transfer during the 2nd quarter worth approximately $31,000. CNB Bank lifted its holdings in shares of Energy Transfer by 111.1% during the second quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 1,000 shares during the period. Financial Life Planners bought a new stake in shares of Energy Transfer in the third quarter worth $34,000. HHM Wealth Advisors LLC increased its holdings in Energy Transfer by 54.4% in the second quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock valued at $41,000 after purchasing an additional 800 shares during the period. Finally, Crowley Wealth Management Inc. acquired a new stake in Energy Transfer in the second quarter valued at $44,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

About Energy Transfer

(Get Free Report)

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.

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