Energy Transfer (NYSE:ET) Trading Down 1.2% - Should You Sell?

Key Points

• Energy Transfer LP's shares fell by 1.2%, trading at $17.95, with a significant drop in trading volume compared to the average session.
• Several analysts have adjusted their price targets for the stock, with targets now ranging from $21.00 to $23.00, maintaining an overall consensus rating of "Moderate Buy."
• The company recently declared a quarterly dividend of $0.33, reflecting a 7.34% dividend yield for shareholders.

Shares of Energy Transfer LP (NYSE:ET - Get Free Report) traded down 1.2% during mid-day trading on Wednesday . The stock traded as low as $17.99 and last traded at $17.95. 2,456,206 shares were traded during mid-day trading, a decline of 84% from the average session volume of 15,510,864 shares. The stock had previously closed at $18.16.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. 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 report on Monday, May 19th. Wells Fargo & Company decreased their price objective on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. TD Cowen assumed coverage on Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating and a $22.00 price objective for the company. Mizuho boosted their price objective on Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, May 20th. Finally, Cowen assumed coverage on Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating for the company. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.58.

Energy Transfer Stock Down 1.0%

The business has a fifty day moving average of $17.78 and a two-hundred day moving average of $18.25. The company has a current ratio of 1.12, a quick ratio of 0.92 and a debt-to-equity ratio of 1.41. The company has a market cap of $61.69 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 0.92 and a beta of 0.79.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. The company had revenue of $21.02 billion during the quarter, compared to analyst estimates of $22.28 billion. During the same period in the previous year, the business earned $0.32 EPS. Energy Transfer's quarterly revenue was down 2.8% on a year-over-year basis. As a group, equities analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th will be given a $0.33 dividend. The ex-dividend date of this dividend is Friday, August 8th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.34%. Energy Transfer's dividend payout ratio is 100.00%.

Insider Activity

In other news, Director James Richard Perry sold 1,369 shares of the company's stock in a transaction that occurred on 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 sale, the director directly owned 24,523 shares in the company, valued at $453,185.04. This represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On Energy Transfer

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brookstone Capital Management boosted its position in shares of Energy Transfer by 2.0% during the second quarter. Brookstone Capital Management now owns 249,040 shares of the pipeline company's stock worth $4,515,000 after buying an additional 4,836 shares during the period. Private Capital Advisors Inc. boosted its position in shares of Energy Transfer by 1.0% during the second quarter. Private Capital Advisors Inc. now owns 850,047 shares of the pipeline company's stock worth $15,411,000 after buying an additional 8,445 shares during the period. Schulhoff & Co. Inc. boosted its position in shares of Energy Transfer by 11.4% during the second quarter. Schulhoff & Co. Inc. now owns 27,840 shares of the pipeline company's stock worth $505,000 after buying an additional 2,840 shares during the period. D.A. Davidson & CO. boosted its position in shares of Energy Transfer by 9.0% during the second quarter. D.A. Davidson & CO. now owns 399,826 shares of the pipeline company's stock worth $7,249,000 after buying an additional 33,167 shares during the period. Finally, Probity Advisors Inc. boosted its position in shares of Energy Transfer by 26.6% during the second quarter. Probity Advisors Inc. now owns 16,209 shares of the pipeline company's stock worth $294,000 after buying an additional 3,401 shares during the period. Institutional investors and hedge funds 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.

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