Energy Transfer (NYSE:ET) Trading Down 1.5% - What's Next?

Key Points

• Energy Transfer's stock dropped 1.5% to $17.20 with a trading volume of over 11 million shares, reflecting a decrease from its average session volume.
• Various analysts have given Energy Transfer ratings; with a consensus average price target of $22.50, including buy ratings from TD Cowen and Scotiabank setting target prices at $22.00 and $23.00 respectively.
• The company declared a quarterly dividend of $0.33 per share, reflecting a dividend yield of 7.7%, despite having a dividend payout ratio of 102.33%.

Energy Transfer LP (NYSE:ET - Get Free Report)'s stock price traded down 1.5% on Monday . The company traded as low as $17.19 and last traded at $17.20. 11,587,954 shares changed hands during trading, a decline of 22% from the average session volume of 14,888,131 shares. The stock had previously closed at $17.46.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. TD Cowen assumed coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a "buy" rating and a $22.00 target price for the company. Scotiabank assumed coverage on shares of Energy Transfer in a research report on Tuesday, September 2nd. They set a "sector outperform" rating and a $23.00 target price for the company. Cowen assumed coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a "buy" rating for the company. Morgan Stanley dropped their target price on shares of Energy Transfer from $24.00 to $23.00 and set an "overweight" rating for the company in a research report on Tuesday, August 26th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $23.00 target price (up previously from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Thirteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Energy Transfer has an average rating of "Moderate Buy" and an average price target of $22.50.

Energy Transfer Trading Down 1.5%

The firm has a market cap of $59.04 billion, a PE ratio of 13.33, a P/E/G ratio of 1.03 and a beta of 0.85. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. The company's 50 day moving average price is $17.52 and its two-hundred day moving average price is $17.59.

Energy Transfer (NYSE:ET - Get Free Report) last announced its earnings results 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 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 the consensus estimate of $24.07 billion. During the same quarter in the prior year, the firm posted $0.35 earnings per share. The business's revenue for the quarter was down 7.2% on a year-over-year basis. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were issued a $0.33 dividend. The ex-dividend date was Friday, August 8th. This is a boost 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 7.7%. Energy Transfer's dividend payout ratio (DPR) is currently 102.33%.

Insider Activity at Energy Transfer

In related news, Director Kelcy L. Warren purchased 1,350,000 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were purchased at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the acquisition, the director owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. This trade represents a 1.99% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 3.28% of the company's stock.

Institutional Trading of Energy Transfer

A number of institutional investors have recently modified their holdings of the company. Ryan Investment Management Inc. purchased a new position in shares of Energy Transfer during the 2nd quarter valued at approximately $31,000. Vision Financial Markets LLC acquired a new stake in Energy Transfer in the 1st quarter valued at $33,000. CNB Bank grew its stake in Energy Transfer by 111.1% in the 2nd quarter. CNB Bank now owns 1,900 shares of the pipeline company's stock valued at $34,000 after acquiring an additional 1,000 shares during the period. Stone House Investment Management LLC acquired a new stake in Energy Transfer in the 1st quarter valued at $38,000. Finally, HWG Holdings LP acquired a new stake in Energy Transfer in the 1st quarter valued at $38,000. 38.22% of the stock is currently owned by institutional investors.

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.

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.