Energy Transfer (NYSE:ET) Stock Price Down 0.1%

Shares of Energy Transfer LP (NYSE:ET - Get Free Report) fell 0.1% during mid-day trading on Wednesday . The company traded as low as $15.98 and last traded at $16.05. 3,287,063 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 13,564,679 shares. The stock had previously closed at $16.06.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ET shares. Mizuho raised their price objective on Energy Transfer from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, June 18th. Morgan Stanley lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an "overweight" rating in a research note on Monday, June 10th. JPMorgan Chase & Co. increased their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an "overweight" rating in a research note on Thursday, June 20th. UBS Group boosted their target price on shares of Energy Transfer from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Wednesday, May 15th. Finally, Stifel Nicolaus increased their price target on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a "buy" rating in a research report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $19.29.

Energy Transfer Stock Down 0.2 %

The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. The company has a market cap of $53.99 billion, a P/E ratio of 14.70, a P/E/G ratio of 0.42 and a beta of 1.66. The stock has a 50 day moving average price of $16.03 and a 200 day moving average price of $15.59.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The business had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. During the same period in the prior year, the firm earned $0.25 EPS. The business's revenue for the quarter was up 13.1% on a year-over-year basis. Research analysts expect that Energy Transfer LP will post 1.49 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. Shareholders of record on Friday, August 9th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 7.99%. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from Energy Transfer's previous quarterly dividend of $0.32. Energy Transfer's payout ratio is presently 117.43%.

Insider Transactions at Energy Transfer

In other news, Director Kelcy L. Warren acquired 3,000,000 shares of the stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the transaction, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other Energy Transfer news, Director Kelcy L. Warren bought 3,000,000 shares of the stock in a transaction on Monday, August 12th. The shares were bought at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the purchase, the director now directly owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Thomas E. Long purchased 20,000 shares of Energy Transfer stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the transaction, the chief executive officer now directly owns 4,308,859 shares of the company's stock, valued at $67,562,909.12. The disclosure for this purchase can be found here. 3.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Energy Transfer

Several institutional investors have recently bought and sold shares of the stock. Granite Bay Wealth Management LLC acquired a new position in Energy Transfer during the second quarter valued at approximately $1,598,000. Pathway Financial Advisers LLC grew its stake in Energy Transfer by 4.6% in the 2nd quarter. Pathway Financial Advisers LLC now owns 69,107 shares of the pipeline company's stock valued at $1,121,000 after buying an additional 3,024 shares during the last quarter. Old North State Trust LLC raised its holdings in Energy Transfer by 8.0% in the 2nd quarter. Old North State Trust LLC now owns 18,946 shares of the pipeline company's stock worth $307,000 after acquiring an additional 1,399 shares during the period. HWG Holdings LP acquired a new position in Energy Transfer during the 2nd quarter worth $33,000. Finally, EP Wealth Advisors LLC boosted its holdings in Energy Transfer by 3.3% during the second quarter. EP Wealth Advisors LLC now owns 40,794 shares of the pipeline company's stock valued at $662,000 after acquiring an additional 1,315 shares during the period. 38.22% of the stock is currently owned by institutional investors.

About Energy Transfer

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.