Energy Transfer (NYSE:ET) Stock Falls 1.1% – What’s Next?

Energy Transfer LP (NYSE:ET) traded down 1.1% during trading on Tuesday. The stock traded as low as $19.77 and last traded at $19.8850. Approximately 10,236,700 shares were traded during mid-day trading, a decline of 19% from the average session volume of 12,580,968 shares. The stock had previously closed at $20.10.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ET shares. Capital One Financial began coverage on shares of Energy Transfer in a research note on Tuesday, September 22nd. They issued an “overweight” rating and a $26.00 price objective on the stock. Truist Financial increased their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Weiss Ratings raised Energy Transfer from a “buy (b)” rating to a “buy (a-)” rating in a research report on Tuesday, September 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $23.00 price target (up from $21.00) on shares of Energy Transfer in a report on Tuesday, July 21st. Finally, JPMorgan Chase & Co. raised their price objective on Energy Transfer from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Energy Transfer has a consensus rating of “Moderate Buy” and an average price target of $24.36.

Energy Transfer Stock Performance

The company has a current ratio of 1.16, a quick ratio of 0.94 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $68.47 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 0.68 and a beta of 0.57. The stock has a fifty day moving average price of $20.89 and a 200-day moving average price of $19.90.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, August 4th. The pipeline company reported $0.59 EPS 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 quarter in the previous year, the firm earned $0.32 EPS. Energy Transfer’s quarterly revenue was up 78.4% on a year-over-year basis. As a group, analysts anticipate that Energy Transfer LP will post 1.73 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 6.8%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.3375. The ex-dividend date was Friday, August 7th. Energy Transfer’s dividend payout ratio (DPR) is presently 92.52%.

Insider Activity

In other news, Director James Perry bought 12,359 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was bought at an average price of $20.23 per share, for a total transaction of $250,022.57. Following the completion of the purchase, the director owned 208,046 shares of the company’s stock, valued at approximately $4,208,770.58. The trade was a 6.32% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kelcy Warren purchased 647,968 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were acquired at an average price of $21.26 per share, for a total transaction of $13,775,799.68. Following the completion of the transaction, the director owned 147,901,879 shares in the company, valued at $3,144,393,947.54. The trade was a 0.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 1,012,359 shares of company stock worth $21,513,543 over the last ninety days. Insiders own 3.28% of the company’s stock.

Institutional Trading of Energy Transfer

Large investors have recently made changes to their positions in the business. Alps Advisors Inc. grew its stake in shares of Energy Transfer by 8.0% during the fourth quarter. Alps Advisors Inc. now owns 83,843,087 shares of the pipeline company’s stock worth $1,382,573,000 after purchasing an additional 6,192,066 shares during the period. Mizuho Markets Americas LLC bought a new stake in shares of Energy Transfer in the 1st quarter valued at about $61,760,000. SCS Capital Management LLC raised its position in shares of Energy Transfer by 1,859.8% in the 2nd quarter. SCS Capital Management LLC now owns 1,942,908 shares of the pipeline company’s stock valued at $37,148,000 after acquiring an additional 1,843,771 shares during the period. Bank of America Corp DE raised its position in shares of Energy Transfer by 5.7% in the 1st quarter. Bank of America Corp DE now owns 30,956,358 shares of the pipeline company’s stock valued at $597,458,000 after acquiring an additional 1,656,609 shares during the period. Finally, Longfellow Investment Management Co. LLC boosted its stake in Energy Transfer by 56.3% during the 4th quarter. Longfellow Investment Management Co. LLC now owns 3,028,233 shares of the pipeline company’s stock worth $49,936,000 after acquiring an additional 1,090,165 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

About Energy Transfer

Energy Transfer LP is a diversified energy infrastructure company headquartered in Dallas, Texas. The partnership owns and operates a broad network of pipelines, processing facilities, storage assets and terminals that support the movement of natural gas, natural gas liquids, crude oil and refined products across the United States.

The company’s operations include gathering and processing natural gas, transporting and storing natural gas and NGLs, fractionating NGLs into component products, and transporting crude oil and refined products.