Energy Transfer (NYSE:ET) Shares Up 0.3% – Time to Buy?

Energy Transfer LP (NYSE:ET) rose 0.3% during mid-day trading on Tuesday . The company traded as high as $16.45 and last traded at $16.45. Approximately 2,485,133 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 12,979,649 shares. The stock had previously closed at $16.40.

Wall Street Analysts Forecast Growth

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

Energy Transfer Price Performance

The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38. The stock has a fifty day simple moving average of $16.16 and a 200-day simple moving average of $15.97. The stock has a market cap of $55.17 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 0.49 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 analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The company had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. During the same period in the prior year, the company posted $0.25 EPS. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. As a group, equities research analysts expect that Energy Transfer LP will post 1.35 EPS for the current year.

Insider Buying and Selling

In other news, EVP Gregory G. Mcilwain purchased 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the acquisition, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Gregory G. Mcilwain purchased 20,000 shares of Energy Transfer 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 transaction, the executive vice president now directly owns 591,211 shares in the company, valued at approximately $9,270,188.48. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’s stock in a transaction dated 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 completion of the purchase, the director now directly owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 3,040,000 shares of company stock valued at $47,667,200 over the last quarter. Corporate insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Energy Transfer

Hedge funds have recently added to or reduced their stakes in the stock. LRI Investments LLC acquired a new stake in Energy Transfer during the 1st quarter worth $29,000. HWG Holdings LP acquired a new stake in shares of Energy Transfer during the second quarter worth about $33,000. Sugarloaf Wealth Management LLC raised its position in shares of Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 750 shares during the period. EdgeRock Capital LLC bought a new position in shares of Energy Transfer during the 2nd quarter valued at about $42,000. Finally, Hudson Edge Investment Partners Inc. acquired a new position in shares of Energy Transfer in the 2nd quarter valued at approximately $42,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

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.