Energy Transfer (NYSE:ET) Trading Up 0.1%

Shares of Energy Transfer LP (NYSE:ET) traded up 0.1% during 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

Several brokerages have recently issued reports on ET. Mizuho upped their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. JPMorgan Chase & Co. lifted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Finally, Morgan Stanley raised their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. 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, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.29.

Energy Transfer Stock Performance

The firm has a 50-day moving average price of $16.06 and a two-hundred day moving average price of $15.79. The firm has a market capitalization of $55.65 billion, a P/E ratio of 14.85, a P/E/G ratio of 0.46 and a beta of 1.66. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The company had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The business’s revenue was up 13.1% compared to the same quarter last year. During the same period last year, the business posted $0.25 earnings per share. On average, analysts forecast that Energy Transfer LP will post 1.4 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 7.87%. 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 dividend payout ratio is currently 117.43%.

Insider Activity

In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of Energy Transfer stock in a transaction dated 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 owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Thomas E. Long acquired 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the transaction, the chief executive officer now directly owns 4,308,859 shares in the company, valued at $67,562,909.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kelcy L. Warren bought 3,000,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was bought at an average price 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 of the company’s stock, valued at $1,934,686,992. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 3,040,000 shares of company stock worth $47,667,200. Company insiders own 3.28% of the company’s stock.

Institutional Trading of Energy Transfer

Institutional investors have recently modified their holdings of the company. Sanctuary Advisors LLC purchased a new stake in shares of Energy Transfer during the 2nd quarter valued at $13,070,000. Cetera Investment Advisers raised its stake in Energy Transfer by 4.2% in the second quarter. Cetera Investment Advisers now owns 1,344,575 shares of the pipeline company’s stock valued at $21,809,000 after buying an additional 54,211 shares during the last quarter. Granite Bay Wealth Management LLC purchased a new stake in shares of Energy Transfer during the second quarter worth about $1,598,000. Pathway Financial Advisers LLC increased its holdings in shares of Energy Transfer by 4.6% during the second quarter. Pathway Financial Advisers LLC now owns 69,107 shares of the pipeline company’s stock valued at $1,121,000 after acquiring an additional 3,024 shares in the last quarter. Finally, Old North State Trust LLC raised its position in shares of Energy Transfer by 8.0% in the 2nd quarter. Old North State Trust LLC now owns 18,946 shares of the pipeline company’s stock valued at $307,000 after purchasing an additional 1,399 shares during the last quarter. 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.