Energy Transfer (NYSE:ET) Trading 0.1% Higher

Energy Transfer LP (NYSE:ET) was up 0.1% on Tuesday . The company traded as high as $16.16 and last traded at $16.07. Approximately 2,835,696 shares were traded during trading, a decline of 79% from the average daily volume of 13,208,729 shares. The stock had previously closed at $16.05.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ET shares. JPMorgan Chase & Co. increased their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Mizuho increased their target price on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Morgan Stanley increased their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. Finally, UBS Group increased their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.14.

Energy Transfer Stock Up 0.1 %

The stock has a 50-day moving average of $16.03 and a 200-day moving average of $15.88. The firm has a market cap of $54.16 billion, a price-to-earnings ratio of 14.74, a P/E/G ratio of 0.50 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 for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The business had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 EPS. Sell-side analysts predict that Energy Transfer LP will post 1.35 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.97%. The ex-dividend date was Friday, August 9th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is currently 117.43%.

Insider Activity at Energy Transfer

In other news, Director Kelcy L. Warren acquired 3,000,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the acquisition, the director now directly owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Gregory G. Mcilwain bought 20,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 591,211 shares in the company, valued at $9,270,188.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kelcy L. Warren bought 3,000,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the transaction, the director now owns 123,385,650 shares in the company, valued at $1,934,686,992. The disclosure for this purchase can be found here. Insiders have bought a total of 3,040,000 shares of company stock valued at $47,667,200 in the last 90 days. 3.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. LRI Investments LLC acquired a new stake in shares of Energy Transfer in the 1st quarter valued at about $29,000. HWG Holdings LP acquired a new stake in shares of Energy Transfer in the 2nd quarter valued at about $33,000. Ables Iannone Moore & Associates Inc. acquired a new position in Energy Transfer during the 4th quarter valued at about $34,000. Adirondack Trust Co. acquired a new position in Energy Transfer during the 4th quarter valued at about $42,000. Finally, EdgeRock Capital LLC acquired a new position in Energy Transfer during the 2nd quarter valued at about $42,000. 38.22% of the stock is 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.