Energy Transfer (NYSE:ET) Shares Down 1.4% - Time to Sell?

Key Points

• Energy Transfer LP shares have declined by 1.4%, trading at $17.16, with a significant drop in volume compared to average sessions.
• Analysts are generally optimistic, with 13 out of 14 offering a Buy rating and a consensus target price of $22.54, reflecting a potential increase from current levels.
• The company reported earnings of $0.32 per share for the last quarter, meeting expectations, but revenue fell short at $19.24 billion, down 7.2% year-over-year.

Energy Transfer LP (NYSE:ET - Get Free Report) shares fell 1.4% on Monday . The stock traded as low as $17.08 and last traded at $17.16. 6,824,233 shares changed hands during trading, a decline of 55% from the average session volume of 15,178,061 shares. The stock had previously closed at $17.39.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company reissued an "overweight" rating and issued a $23.00 target price (up previously from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Morgan Stanley dropped their price objective on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a report on Tuesday, August 26th. Scotiabank began coverage on Energy Transfer in a research report on Tuesday, September 2nd. They issued a "sector outperform" rating and a $23.00 target price on the stock. JPMorgan Chase & Co. decreased their price objective on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Finally, Mizuho raised their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 20th. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Energy Transfer currently has an average rating of "Moderate Buy" and a consensus target price of $22.54.

Energy Transfer Price Performance

The company's 50-day moving average is $17.62 and its 200-day moving average is $17.71. The firm has a market capitalization of $58.82 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 0.99 and a beta of 0.85. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The company had revenue of $19.24 billion during the quarter, compared to analysts' expectations of $24.07 billion. During the same period in the prior year, the business earned $0.35 earnings per share. Energy Transfer's revenue for the quarter was down 7.2% compared to the same quarter last year. On average, research analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 7.7%. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date was Friday, August 8th. Energy Transfer's dividend payout ratio (DPR) is currently 102.33%.

Insider Buying and Selling at Energy Transfer

In other news, Director James Richard Perry sold 1,369 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $18.48, for a total value of $25,299.12. Following the completion of the transaction, the director owned 24,523 shares of the company's stock, valued at $453,185.04. The trade was a 5.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kelcy L. Warren bought 1,350,000 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were acquired at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the purchase, the director directly owned 69,178,477 shares of the company's stock, valued at approximately $1,200,938,360.72. This trade represents a 1.99% increase in their position. The disclosure for this purchase can be found here. 3.28% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Energy Transfer

Several large investors have recently modified their holdings of ET. Capital A Wealth Management LLC bought a new position in shares of Energy Transfer during the 4th quarter worth $26,000. Fourth Dimension Wealth LLC acquired a new position in Energy Transfer in the fourth quarter valued at $29,000. Ryan Investment Management Inc. acquired a new position in shares of Energy Transfer during the second quarter worth approximately $31,000. Vision Financial Markets LLC acquired a new position in shares of Energy Transfer in the first quarter worth $33,000. Finally, CNB Bank increased its holdings in shares of Energy Transfer by 111.1% during the second quarter. CNB Bank now owns 1,900 shares of the pipeline company's stock worth $34,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.