Energy Transfer LP Unit (NYSE:ET) Shares Down 5.9%

Energy Transfer LP Unit (NYSE:ET)’s stock price was down 5.9% during trading on Monday . The company traded as low as $13.24 and last traded at $13.30, approximately 22,399,859 shares traded hands during trading. An increase of 112% from the average daily volume of 10,574,056 shares. The stock had previously closed at $14.14.

Several equities research analysts have recently issued reports on ET shares. Piper Jaffray Companies started coverage on Energy Transfer LP Unit in a report on Wednesday, July 17th. They issued an “overweight” rating and a $22.00 target price on the stock. Raymond James reaffirmed an “average” rating and issued a $19.00 target price on shares of Energy Transfer LP Unit in a report on Friday, June 21st. Citigroup lifted their target price on Energy Transfer LP Unit from $16.00 to $19.50 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Zacks Investment Research cut Energy Transfer LP Unit from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Finally, ValuEngine raised Energy Transfer LP Unit from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $19.50.

The firm’s 50-day moving average is $14.50. The firm has a market cap of $37.04 billion, a price-to-earnings ratio of 11.57 and a beta of 1.54. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.81 and a current ratio of 1.06.

Energy Transfer LP Unit (NYSE:ET) last announced its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $13.12 billion during the quarter, compared to analyst estimates of $14.39 billion. Energy Transfer LP Unit had a return on equity of 7.61% and a net margin of 4.03%. The company’s revenue was up 10.4% compared to the same quarter last year. Equities analysts anticipate that Energy Transfer LP Unit will post 1.42 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Tuesday, August 6th will be issued a $0.305 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 9.17%. Energy Transfer LP Unit’s payout ratio is 106.09%.

In related news, Director Michael K. Grimm bought 3,888 shares of the stock in a transaction on Friday, June 14th. The stock was bought at an average price of $14.14 per share, for a total transaction of $54,976.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas P. Mason sold 75,000 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $13.97, for a total value of $1,047,750.00. The disclosure for this sale can be found here. 3.28% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of ET. Focused Wealth Management Inc acquired a new position in shares of Energy Transfer LP Unit during the first quarter worth $25,000. OLD Second National Bank of Aurora acquired a new position in shares of Energy Transfer LP Unit during the second quarter worth $27,000. First Personal Financial Services acquired a new position in shares of Energy Transfer LP Unit during the second quarter worth $27,000. Meridian Wealth Management LLC acquired a new position in shares of Energy Transfer LP Unit in the 1st quarter valued at $28,000. Finally, Rocky Mountain Advisers LLC acquired a new position in shares of Energy Transfer LP Unit in the 2nd quarter valued at $28,000. 56.94% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer LP Unit Company Profile (NYSE:ET)

Energy Transfer LP provides energy-related services in the United States and China. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and approximately 12,200 miles of interstate natural gas pipelines. It sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.

Further Reading: Oversold

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