Energy Transfer (NYSE:ET) Shares Down 0.9%

Energy Transfer LP (NYSE:ET - Get Free Report) was down 0.9% during mid-day trading on Friday . The stock traded as low as $15.87 and last traded at $15.88. Approximately 2,375,834 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 13,419,521 shares. The stock had previously closed at $16.02.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ET shares. Stifel Nicolaus increased 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 target price on 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 raised 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. Morgan Stanley increased their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an "overweight" rating in a research report on Monday, June 10th. Finally, Mizuho increased their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, June 18th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.29.

Energy Transfer Price Performance

The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38. The stock has a market cap of $53.58 billion, a price-to-earnings ratio of 14.55, a price-to-earnings-growth ratio of 0.47 and a beta of 1.66. The company's 50-day moving average is $16.11 and its 200-day moving average is $15.72.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The company had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $22.01 billion. During the same period last year, the company earned $0.25 earnings per share. Energy Transfer's revenue for the quarter was up 13.1% compared to the same quarter last year. Equities research analysts expect that Energy Transfer LP will post 1.4 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a yield of 8.05%. Energy Transfer's dividend payout ratio (DPR) is 117.43%.

Insiders Place Their Bets

In related news, EVP Gregory G. Mcilwain acquired 20,000 shares of the company's stock in a transaction that occurred on Friday, August 23rd. 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 acquisition, the executive vice president now directly owns 591,211 shares in the company, valued at approximately $9,270,188.48. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Kelcy L. Warren acquired 3,000,000 shares of the firm's stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the transaction, the director now directly owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Gregory G. Mcilwain acquired 20,000 shares of the firm's stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the transaction, the executive vice president now owns 591,211 shares in the company, valued at $9,270,188.48. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 3,040,000 shares of company stock worth $47,667,200. Company insiders own 3.28% of the company's stock.

Institutional Trading of Energy Transfer

Several hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC raised 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 purchasing an additional 29,483 shares in the last quarter. Aveo Capital Partners LLC raised its position in shares of Energy Transfer by 1.3% in the 4th quarter. Aveo Capital Partners LLC now owns 133,559 shares of the pipeline company's stock valued at $1,843,000 after buying an additional 1,663 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Energy Transfer by 167.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 10,266 shares of the pipeline company's stock worth $142,000 after purchasing an additional 6,428 shares in the last quarter. 9258 Wealth Management LLC acquired a new position in Energy Transfer during the 4th quarter worth approximately $645,000. Finally, Merit Financial Group LLC increased its position in Energy Transfer by 29.1% during the 4th quarter. Merit Financial Group LLC now owns 24,509 shares of the pipeline company's stock worth $338,000 after purchasing an additional 5,519 shares in the last quarter. Institutional investors own 38.22% of the company's stock.

Energy Transfer Company Profile

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.