Energy Transfer (NYSE:ET) Shares Up 0.7%

Energy Transfer LP (NYSE:ET)’s stock price shot up 0.7% during trading on Monday . The company traded as high as $16.35 and last traded at $16.31. 3,729,356 shares changed hands during trading, a decline of 72% from the average session volume of 13,271,440 shares. The stock had previously closed at $16.20.

Analysts Set New Price Targets

Several brokerages have issued reports on ET. UBS Group increased their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Morgan Stanley lifted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. Mizuho raised their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Finally, JPMorgan Chase & Co. upped their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and an average price target of $19.14.

Energy Transfer Stock Up 0.3 %

The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38. The company’s 50 day moving average price is $16.06 and its 200 day moving average price is $15.83. The firm has a market capitalization of $54.76 billion, a price-to-earnings ratio of 14.96, a P/E/G ratio of 0.46 and a beta of 1.66.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data 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). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The firm had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. During the same period in the prior year, the company posted $0.25 earnings per share. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, research analysts forecast that Energy Transfer LP will post 1.4 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 7.88%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 9th. Energy Transfer’s payout ratio is presently 117.43%.

Insider Buying and Selling

In related news, Director Kelcy L. Warren acquired 3,000,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was acquired 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Kelcy L. Warren bought 3,000,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased 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 in the company, valued at approximately $1,934,686,992. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Gregory G. Mcilwain bought 20,000 shares of Energy Transfer stock in a transaction dated 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 transaction, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at $9,270,188.48. The disclosure for this purchase can be found here. Insiders acquired a total of 3,040,000 shares of company stock valued at $47,667,200 over the last 90 days. Insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Tortoise Capital Advisors L.L.C. boosted its position in shares of Energy Transfer by 12.7% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock worth $594,769,000 after purchasing an additional 4,141,715 shares during the period. First Reserve GP XIII Ltd purchased a new stake in shares of Energy Transfer in the 4th quarter valued at $322,097,000. Natixis lifted its stake in Energy Transfer by 20.0% during the 1st quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock worth $283,463,000 after acquiring an additional 2,999,300 shares in the last quarter. Westwood Holdings Group Inc. grew its position in Energy Transfer by 6.9% in the 4th quarter. Westwood Holdings Group Inc. now owns 16,785,510 shares of the pipeline company’s stock valued at $231,640,000 after acquiring an additional 1,085,240 shares in the last quarter. Finally, Chickasaw Capital Management LLC increased its stake in Energy Transfer by 2.9% during the second quarter. Chickasaw Capital Management LLC now owns 14,883,956 shares of the pipeline company’s stock worth $241,418,000 after purchasing an additional 425,323 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

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.