Energy Transfer (NYSE:ET) Stock Price Down 0.3%

Energy Transfer LP (NYSE:ET - Get Free Report)'s share price fell 0.3% during mid-day trading on Thursday . The stock traded as low as $15.95 and last traded at $15.97. 1,880,018 shares were traded during mid-day trading, a decline of 86% from the average session volume of 13,545,102 shares. The stock had previously closed at $16.02.

Analyst Ratings Changes

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

Energy Transfer Stock Down 0.3 %

The firm has a market cap of $53.80 billion, a PE ratio of 14.65, a P/E/G ratio of 0.42 and a beta of 1.66. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37. The stock has a 50-day simple moving average of $16.04 and a two-hundred day simple moving average of $15.59.

Energy Transfer (NYSE:ET - Get Free Report) last released its earnings results 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 net margin of 4.85% and a return on equity of 12.22%. The business had revenue of $20.73 billion for the quarter, compared to analysts' expectations of $22.01 billion. During the same quarter in the previous year, the business posted $0.25 earnings per share. Energy Transfer's revenue for the quarter was up 13.1% on a year-over-year basis. Analysts expect that Energy Transfer LP will post 1.49 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were paid a $0.32 dividend. This is a boost from Energy Transfer's previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a dividend yield of 8.02%. The ex-dividend date of this dividend was Friday, August 9th. Energy Transfer's dividend payout ratio (DPR) is presently 117.43%.

Insider Activity

In other news, CEO Thomas E. Long bought 20,000 shares of the stock in a transaction on Monday, August 12th. The stock was bought at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the purchase, the chief executive officer now directly owns 4,308,859 shares in the company, valued at $67,562,909.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Energy Transfer news, Director Kelcy L. Warren bought 3,000,000 shares of Energy Transfer stock in a transaction on Monday, August 12th. The shares were bought at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the transaction, the director now directly owns 123,385,650 shares of the company's stock, valued at $1,934,686,992. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Thomas E. Long bought 20,000 shares of the business's stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the purchase, the chief executive officer now owns 4,308,859 shares in the company, valued at $67,562,909.12. The disclosure for this purchase can be found here. 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 company. International Assets Investment Management LLC grew its stake in Energy Transfer by 12.1% in the 4th quarter. International Assets Investment Management LLC now owns 272,243 shares of the pipeline company's stock worth $3,757,000 after acquiring an additional 29,483 shares during the period. Signaturefd LLC increased its stake in shares of Energy Transfer by 6.4% in the fourth quarter. Signaturefd LLC now owns 25,155 shares of the pipeline company's stock valued at $347,000 after purchasing an additional 1,508 shares during the period. RWA Wealth Partners LLC bought a new stake in shares of Energy Transfer during the fourth quarter valued at about $260,000. Larson Financial Group LLC lifted its position in Energy Transfer by 24.5% in the fourth quarter. Larson Financial Group LLC now owns 16,893 shares of the pipeline company's stock worth $233,000 after purchasing an additional 3,324 shares during the period. Finally, Parkside Financial Bank & Trust boosted its position in shares of Energy Transfer by 12.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 17,436 shares of the pipeline company's stock valued at $241,000 after purchasing an additional 1,996 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

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.