Energy Transfer (NYSE:ET) Trading Up 1.3%

Energy Transfer LP (NYSE:ET)’s stock price was up 1.3% on Thursday . The stock traded as high as $16.15 and last traded at $16.13. Approximately 2,896,437 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 13,413,811 shares. The stock had previously closed at $15.92.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Morgan Stanley raised their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Mizuho lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. JPMorgan Chase & Co. upped their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Finally, UBS Group lifted their target price on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.29.

Energy Transfer Trading Down 0.7 %

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 stock’s 50 day moving average price is $16.10 and its 200-day moving average price is $15.73. The stock has a market capitalization of $53.58 billion, a PE ratio of 14.59, a PEG ratio of 0.47 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 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The business had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $22.01 billion. During the same quarter in the previous year, the firm earned $0.25 earnings per share. Energy Transfer’s revenue was up 13.1% on a year-over-year basis. On average, sell-side analysts expect that Energy Transfer LP will post 1.4 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were issued a dividend of $0.32 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a yield of 8.05%. The ex-dividend date of this dividend was Friday, August 9th. Energy Transfer’s dividend payout ratio (DPR) is 117.43%.

Insider Activity

In related news, Director Kelcy L. Warren purchased 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 acquisition, the director now 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 Securities & Exchange Commission, which is available through the SEC website. In other news, Director Kelcy L. Warren purchased 3,000,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $15.68 per share, for a total transaction 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. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregory G. Mcilwain acquired 20,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were purchased at an average cost 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 $9,270,188.48. The disclosure for this purchase can be found here. Insiders have purchased a total of 3,040,000 shares of company stock worth $47,667,200 over the last quarter. Insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Energy Transfer

Institutional investors and hedge funds have recently made changes to their positions in the business. Northwest Financial Advisors bought a new position in shares of Energy Transfer during the 4th quarter valued at approximately $25,000. LRI Investments LLC purchased a new position in Energy Transfer during the first quarter worth $29,000. HWG Holdings LP bought a new position in Energy Transfer during the second quarter valued at $33,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Energy Transfer in the fourth quarter valued at $33,000. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in shares of Energy Transfer in the 4th quarter worth about $34,000. 38.22% of the stock is owned by hedge funds and other 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.