Energy Transfer (NYSE:ET) Stock Price Down 1.1% – Should You Sell?

Energy Transfer LP (NYSE:ET)’s stock price dropped 1.1% during mid-day trading on Monday . The company traded as low as $20.77 and last traded at $20.90. Approximately 7,419,603 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 12,660,640 shares. The stock had previously closed at $21.14.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ET shares. Barclays reiterated an “overweight” rating and set a $24.00 price target (up from $23.00) on shares of Energy Transfer in a report on Wednesday, August 5th. Stifel Nicolaus initiated coverage on shares of Energy Transfer in a research note on Thursday, September 10th. They issued a “buy” rating and a $25.00 target price for the company. TD Cowen reiterated a “buy” rating and issued a $25.00 price target (up from $24.00) on shares of Energy Transfer in a report on Monday, August 10th. JPMorgan Chase & Co. increased their price target on Energy Transfer from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, September 4th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a report on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $24.17.

Energy Transfer Stock Performance

The stock has a market cap of $71.96 billion, a PE ratio of 14.22, a P/E/G ratio of 0.70 and a beta of 0.57. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.16 and a quick ratio of 0.94. The stock has a 50-day simple moving average of $20.86 and a 200-day simple moving average of $19.83.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.21. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%.The business had revenue of $34.33 billion for the quarter, compared to analyst estimates of $27.71 billion. During the same period in the previous year, the company posted $0.32 EPS. The company’s revenue was up 78.4% compared to the same quarter last year. Equities analysts predict that Energy Transfer LP will post 1.74 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, August 19th. Shareholders of record on Friday, August 7th were paid a dividend of $0.34 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.36 annualized dividend and a yield of 6.5%. The ex-dividend date was Friday, August 7th. Energy Transfer’s payout ratio is presently 92.52%.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, Director James Perry purchased 12,359 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was purchased at an average cost of $20.23 per share, with a total value of $250,022.57. Following the transaction, the director owned 208,046 shares in the company, valued at approximately $4,208,770.58. This trade represents a 6.32% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kelcy L. Warren acquired 647,968 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was bought at an average cost of $21.26 per share, for a total transaction of $13,775,799.68. Following the completion of the transaction, the director directly owned 147,901,879 shares of the company’s stock, valued at $3,144,393,947.54. This trade represents a 0.44% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 1,012,359 shares of company stock valued at $21,513,543 in the last three months. Company insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Energy Transfer

Large investors have recently modified their holdings of the stock. Bullseye Investment Management LLC acquired a new position in Energy Transfer during the 2nd quarter worth approximately $42,000. Talon Private Wealth LLC lifted its position in shares of Energy Transfer by 1.7% during the second quarter. Talon Private Wealth LLC now owns 53,343 shares of the pipeline company’s stock worth $1,020,000 after purchasing an additional 888 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Energy Transfer by 6.1% in the second quarter. Sequoia Financial Advisors LLC now owns 78,368 shares of the pipeline company’s stock valued at $1,498,000 after purchasing an additional 4,491 shares during the period. Tidal Investments LLC boosted its stake in shares of Energy Transfer by 56.7% in the second quarter. Tidal Investments LLC now owns 1,611,509 shares of the pipeline company’s stock valued at $30,812,000 after purchasing an additional 583,196 shares during the period. Finally, M.E. Allison & CO. Inc. grew its holdings in Energy Transfer by 3.4% during the 2nd quarter. M.E. Allison & CO. Inc. now owns 25,535 shares of the pipeline company’s stock valued at $488,000 after purchasing an additional 843 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Company Profile

Energy Transfer LP (NYSE: ET) is a diversified midstream energy partnership that owns and operates infrastructure used to transport, store, process and market energy commodities. Its assets support the movement of natural gas, crude oil, natural gas liquids (NGLs), refined products and other hydrocarbon-based materials.

The company’s operations include natural gas gathering and processing, interstate and intrastate pipeline transportation, NGL fractionation and storage, crude oil and refined products transportation, and terminal services.