Energy Transfer (NYSE:ET) Trading 0.1% Higher

Energy Transfer LP (NYSE:ET)’s stock price shot up 0.1% during mid-day trading on Monday . The stock traded as high as $16.26 and last traded at $16.19. 1,704,474 shares changed hands during trading, a decline of 87% from the average session volume of 13,294,926 shares. The stock had previously closed at $16.17.

Wall Street Analyst Weigh In

ET has been the topic of a number of research analyst reports. Morgan Stanley boosted 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. JPMorgan Chase & Co. raised their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. Finally, Mizuho boosted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and an average target price of $19.29.

Energy Transfer Stock Performance

The company’s 50-day moving average price is $16.06 and its two-hundred day moving average price is $15.79. The stock has a market cap of $55.65 billion, a PE ratio of 14.85, a PEG ratio of 0.46 and a beta of 1.66. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14.

Energy Transfer (NYSE:ET) last released 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). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The firm had revenue of $20.73 billion during the quarter, compared to the consensus estimate of $22.01 billion. During the same quarter in the previous year, the firm earned $0.25 EPS. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, equities research analysts forecast that Energy Transfer LP will post 1.4 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 7.87%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 9th. Energy Transfer’s dividend payout ratio (DPR) is presently 117.43%.

Insider Activity

In other news, Director Kelcy L. Warren purchased 3,000,000 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Gregory G. Mcilwain acquired 20,000 shares of Energy Transfer stock in a transaction on Friday, August 23rd. The shares were 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 owns 591,211 shares in the company, valued at $9,270,188.48. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was bought at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the acquisition, the director now directly owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 3,040,000 shares of company stock valued at $47,667,200. 3.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Energy Transfer

Hedge funds have recently made changes to their positions in the company. LRI Investments LLC purchased a new position in shares of Energy Transfer in the 1st quarter worth $29,000. HWG Holdings LP purchased a new position in shares of Energy Transfer in the second quarter valued at about $33,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $34,000. Adirondack Trust Co. bought a new stake in Energy Transfer in the 4th quarter valued at $42,000. Finally, EdgeRock Capital LLC bought a new position in Energy Transfer during the second quarter valued at approximately $42,000. 38.22% of the stock is currently 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.