Energy Transfer (NYSE:ET) Price Target Raised to $23.00 at UBS Group

Energy Transfer (NYSE:ET) had its target price upped by UBS Group from $22.00 to $23.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the pipeline company’s stock.

Other analysts have also issued research reports about the company. Mizuho lifted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock a buy rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. lifted their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an overweight rating in a report on Thursday, June 20th. Finally, Morgan Stanley upped their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an overweight rating in a research note on Monday, June 10th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $19.14.

Energy Transfer Stock Performance

Shares of Energy Transfer stock opened at $16.11 on Wednesday. Energy Transfer has a 1 year low of $12.90 and a 1 year high of $16.50. The firm’s 50-day moving average is $16.06 and its 200 day moving average is $15.81. The stock has a market cap of $54.29 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 0.46 and a beta of 1.66. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). The firm had revenue of $20.73 billion during the quarter, compared to the consensus estimate of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The company’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.25 EPS. Sell-side analysts anticipate that Energy Transfer will post 1.4 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 7.95%. The ex-dividend date was Friday, August 9th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is 117.43%.

Insider Buying and Selling

In other Energy Transfer news, EVP Gregory G. Mcilwain bought 20,000 shares of Energy Transfer stock in a transaction on Friday, August 23rd. The stock was acquired at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the acquisition, the executive vice president now owns 591,211 shares in the company, valued at $9,270,188.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Gregory G. Mcilwain purchased 20,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the acquisition, the executive vice president now owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the purchase, the director now directly owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 3,040,000 shares of company stock valued at $47,667,200. 3.28% of the stock is owned by insiders.

Institutional Trading of Energy Transfer

Hedge funds and other institutional investors have recently modified their holdings of the company. Rehmann Capital Advisory Group lifted its stake in shares of Energy Transfer by 2.0% during the 1st quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock valued at $505,000 after buying an additional 633 shares in the last quarter. Veracity Capital LLC grew its holdings in Energy Transfer by 2.0% during the 2nd quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock valued at $545,000 after buying an additional 659 shares in the last quarter. Sfmg LLC grew its stake in Energy Transfer by 2.2% during the first quarter. Sfmg LLC now owns 31,406 shares of the pipeline company’s stock valued at $494,000 after acquiring an additional 674 shares in the last quarter. Morton Capital Management LLC CA increased its holdings in shares of Energy Transfer by 1.6% in the second quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock worth $720,000 after purchasing an additional 699 shares during the last quarter. Finally, FinTrust Capital Advisors LLC grew its holdings in Energy Transfer by 3.6% during the 1st quarter. FinTrust Capital Advisors LLC now owns 20,201 shares of the pipeline company’s stock valued at $318,000 after buying an additional 700 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

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.