Energy Transfer (NYSE:ET) Trading Up 0.1% – Still a Buy?

Shares of Energy Transfer LP (NYSE:ET) traded up 0.1% during mid-day trading on Wednesday . The company traded as high as $16.22 and last traded at $16.19. 930,596 shares traded hands during trading, a decline of 93% from the average session volume of 13,107,052 shares. The stock had previously closed at $16.17.

Analyst Ratings Changes

ET has been the subject of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. UBS Group raised their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Mizuho boosted their price target on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $20.00.

Energy Transfer Stock Performance

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 is $16.03 and its 200-day moving average is $15.90. The firm has a market capitalization of $54.73 billion, a P/E ratio of 14.91, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. Energy Transfer’s revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the business posted $0.25 earnings per share. As a group, equities analysts anticipate that Energy Transfer LP will post 1.35 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were issued a $0.32 dividend. The ex-dividend date was Friday, August 9th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a yield of 7.88%. Energy Transfer’s dividend payout ratio (DPR) is 117.43%.

Insiders Place Their Bets

In related news, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were purchased 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 of the company’s stock, valued at approximately $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Energy Transfer news, EVP Gregory G. Mcilwain purchased 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the purchase, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at $9,270,188.48. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kelcy L. Warren acquired 3,000,000 shares of Energy Transfer stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the transaction, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 3,040,000 shares of company stock worth $47,667,200 in the last quarter. 3.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On Energy Transfer

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Reserve GP XIII Ltd bought a new position in shares of Energy Transfer during the fourth quarter valued at $322,097,000. Tortoise Capital Advisors L.L.C. boosted its holdings in Energy Transfer by 12.7% in the second 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 last quarter. Natixis raised 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 valued at $283,463,000 after buying an additional 2,999,300 shares during the last quarter. Payden & Rygel Investment Group purchased a new position in shares of Energy Transfer in the 1st quarter worth $20,164,000. Finally, Merewether Investment Management LP lifted its holdings in Energy Transfer by 22.3% in the second quarter. Merewether Investment Management LP now owns 6,591,793 shares of the pipeline company’s stock valued at $106,919,000 after acquiring an additional 1,200,501 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

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.