Energy Transfer (NYSE:ET) Trading 1.4% Higher – Here’s What Happened

Energy Transfer LP (NYSE:ET)’s share price was up 1.4% during trading on Tuesday . The company traded as high as $17.84 and last traded at $17.83. Approximately 6,089,754 shares were traded during trading, a decline of 54% from the average daily volume of 13,338,400 shares. The stock had previously closed at $17.58.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ET shares. Bank of America initiated coverage on Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective for the company. UBS Group boosted their price target on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research 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 company an “outperform” rating in a report on Wednesday, October 16th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Stock Performance

The stock has a market capitalization of $62.62 billion, a price-to-earnings ratio of 13.45, a P/E/G ratio of 0.55 and a beta of 1.66. The company’s fifty day simple moving average is $16.55 and its 200 day simple moving average is $16.14. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. During the same period in the prior year, the firm earned $0.31 EPS. The business’s revenue was up .2% on a year-over-year basis. On average, equities research analysts expect that Energy Transfer LP will post 1.34 earnings per share for the current year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a yield of 7.05%. The ex-dividend date was Friday, November 8th. Energy Transfer’s payout ratio is 94.85%.

Insiders Place Their Bets

In related news, EVP Gregory G. Mcilwain bought 20,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $15.68 per share, for a total transaction 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 trade was a 3.50 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Second Line Capital LLC lifted its stake in Energy Transfer by 7.5% during the third quarter. Second Line Capital LLC now owns 23,509 shares of the pipeline company’s stock worth $377,000 after purchasing an additional 1,642 shares during the last quarter. Fortem Financial Group LLC boosted its stake in Energy Transfer by 6.1% in the third quarter. Fortem Financial Group LLC now owns 200,306 shares of the pipeline company’s stock valued at $3,215,000 after buying an additional 11,455 shares in the last quarter. Asset Allocation Strategies LLC boosted its stake in Energy Transfer by 5.2% in the third quarter. Asset Allocation Strategies LLC now owns 30,918 shares of the pipeline company’s stock valued at $496,000 after buying an additional 1,525 shares in the last quarter. Sunbelt Securities Inc. raised its stake in Energy Transfer by 6.3% during the third quarter. Sunbelt Securities Inc. now owns 291,231 shares of the pipeline company’s stock worth $4,674,000 after acquiring an additional 17,136 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Energy Transfer by 4.2% in the third quarter. Geode Capital Management LLC now owns 126,331 shares of the pipeline company’s stock worth $2,028,000 after acquiring an additional 5,127 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

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.