Energy Transfer (NYSE:ET) Shares Down 1.4% - What's Next?

Key Points

• Energy Transfer LP (NYSE:ET) shares fell 1.4% during mid-day trading, with a current trading price of $16.44 and a notable drop in trading volume compared to average levels.
• Analysts maintain a positive outlook on Energy Transfer, with thirteen analysts rating it as a Buy and an average target price of $22.67.
• The company announced a quarterly dividend of $0.33 per share, yielding approximately 8.0%, despite having a high dividend payout ratio of 102.33%.

Energy Transfer LP (NYSE:ET - Get Free Report) shares were down 1.4% during mid-day trading on Friday . The stock traded as low as $16.39 and last traded at $16.44. Approximately 14,327,408 shares traded hands during mid-day trading, a decline of 4% from the average daily volume of 14,938,131 shares. The stock had previously closed at $16.68.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ET shares. Scotiabank started coverage on shares of Energy Transfer in a report on Tuesday, September 2nd. They issued a "sector outperform" rating and a $23.00 price target on the stock. Morgan Stanley dropped their target price on shares of Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a report on Tuesday, August 26th. Cowen began coverage on shares of Energy Transfer in a report on Monday, July 7th. They set a "buy" rating on the stock. Barclays reissued an "overweight" rating and set a $25.00 target price on shares of Energy Transfer in a report on Wednesday. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $23.00 target price (up from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Thirteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $22.67.

Energy Transfer Stock Performance

The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15. The stock's fifty day moving average is $17.25 and its two-hundred day moving average is $17.41. The firm has a market cap of $56.43 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 1.00 and a beta of 0.78.

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

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 8.0%. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio is 102.33%.

Insider Buying and Selling

In related news, Director Kelcy L. Warren bought 1,350,000 shares of the stock in a transaction on Wednesday, August 20th. The shares were purchased at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the purchase, the director owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. This represents a 1.99% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.28% of the company's stock.

Hedge Funds Weigh In On Energy Transfer

Several large investors have recently bought and sold shares of ET. Ryan Investment Management Inc. acquired a new position in Energy Transfer during the 2nd quarter valued at about $31,000. Vision Financial Markets LLC acquired a new position in shares of Energy Transfer in the 1st quarter worth approximately $33,000. CNB Bank grew its stake in shares of Energy Transfer by 111.1% in the 2nd quarter. CNB Bank now owns 1,900 shares of the pipeline company's stock worth $34,000 after purchasing an additional 1,000 shares during the last quarter. HWG Holdings LP acquired a new position in shares of Energy Transfer in the 1st quarter worth approximately $38,000. Finally, Stone House Investment Management LLC acquired a new position in shares of Energy Transfer in the 1st quarter worth approximately $38,000. Institutional investors and hedge funds 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.

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