Energy Transfer (NYSE:ET) Trading Up 0.6% – What’s Next?

Energy Transfer LP (NYSE:ET)’s share price shot up 0.6% during trading on Friday . The stock traded as high as $17.27 and last traded at $17.25. 4,205,698 shares traded hands during trading, a decline of 68% from the average session volume of 13,318,466 shares. The stock had previously closed at $17.15.

Wall Street Analysts Forecast Growth

ET has been the topic of several research reports. Bank of America initiated coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective on the stock. UBS Group boosted their price target on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Royal Bank of Canada increased their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $20.00.

Energy Transfer Stock Up 0.6 %

The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.92. The firm has a 50-day moving average of $16.39 and a 200 day moving average of $16.08. The stock has a market capitalization of $59.06 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 0.52 and a beta of 1.66.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same quarter last year, the firm posted $0.31 EPS. The company’s quarterly revenue was up .2% on a year-over-year basis. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be given a $0.3225 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 7.48%. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Insider Transactions at Energy Transfer

In other news, EVP Gregory G. Mcilwain bought 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the acquisition, the executive vice president now directly owns 591,211 shares in the company, valued at approximately $9,270,188.48. This represents a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 ET. Princeton Global Asset Management LLC increased its position in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after buying an additional 650 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 1,668 shares in the last quarter. LRI Investments LLC bought a new position in shares of Energy Transfer in the 1st quarter worth $29,000. HWG Holdings LP acquired a new stake in Energy Transfer in the 2nd quarter valued at $33,000. Finally, Sugarloaf Wealth Management LLC increased its stake in Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 750 shares in the last quarter. 38.22% of the stock is owned by 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.