Energy Transfer (NYSE:ET) Shares Down 1.7% - Here's What Happened

Energy Transfer LP (NYSE:ET - Get Free Report) was down 1.7% during trading on Tuesday . The stock traded as low as $17.83 and last traded at $17.83. Approximately 3,876,340 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 15,708,275 shares. The stock had previously closed at $18.13.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ET shares. Royal Bank Of Canada restated an "outperform" rating and issued a $23.00 price objective on shares of Energy Transfer in a report on Tuesday, March 25th. JPMorgan Chase & Co. dropped their price target on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Wells Fargo & Company reduced their price objective on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Morgan Stanley upped their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. Finally, Citigroup reissued a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.64.

Energy Transfer Trading Up 0.2%

The company has a market capitalization of $61.57 billion, a P/E ratio of 13.59, a P/E/G ratio of 0.58 and a beta of 0.79. The company has a 50-day simple moving average of $17.65 and a 200 day simple moving average of $18.47. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.92 and a current ratio of 1.12.

Energy Transfer (NYSE:ET - Get Free Report) last released its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. The firm had revenue of $21.02 billion during the quarter, compared to analysts' expectations of $22.28 billion. Energy Transfer had a net margin of 5.88% and a return on equity of 11.47%. The business's quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 EPS. Sell-side 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 announced a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 9th were given a dividend of $0.3275 per share. The ex-dividend date of this dividend was Friday, May 9th. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.31 dividend on an annualized basis and a yield of 7.30%. Energy Transfer's dividend payout ratio (DPR) is 99.24%.

Insider Buying and Selling

In other news, Director James Richard Perry sold 1,369 shares of Energy Transfer stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $18.48, for a total transaction of $25,299.12. Following the sale, the director owned 24,523 shares of the company's stock, valued at approximately $453,185.04. This trade represents a 5.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Energy Transfer

A number of institutional investors have recently bought and sold shares of ET. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Energy Transfer during the 4th quarter valued at about $25,000. Capital A Wealth Management LLC bought a new position in Energy Transfer during the fourth quarter worth about $26,000. Fourth Dimension Wealth LLC acquired a new stake in Energy Transfer during the fourth quarter valued at approximately $29,000. United Community Bank acquired a new stake in Energy Transfer during the fourth quarter valued at approximately $35,000. Finally, Vision Financial Markets LLC bought a new stake in shares of Energy Transfer in the 1st quarter valued at approximately $33,000. 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.