Energy Transfer (NYSE:ET) Trading 1.4% Higher

Energy Transfer LP (NYSE:ET) traded up 1.4% on Friday . The company traded as high as $16.22 and last traded at $16.18. 2,536,694 shares changed hands during trading, a decline of 81% from the average session volume of 13,516,385 shares. The stock had previously closed at $15.95.

Analyst Ratings Changes

A number of research firms have recently issued reports on ET. UBS Group increased their price target on Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Stifel Nicolaus increased their target price on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Mizuho boosted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Morgan Stanley upped their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $19.29.

Energy Transfer Stock Up 1.3 %

The company’s fifty day simple moving average is $16.06 and its 200-day simple moving average is $15.62. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00. The firm has a market capitalization of $54.43 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 0.42 and a beta of 1.66.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The business had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $22.01 billion. During the same quarter last year, the firm earned $0.25 earnings per share. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, analysts forecast that Energy Transfer LP will post 1.49 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were issued a dividend of $0.32 per share. The ex-dividend date was Friday, August 9th. This represents a $1.28 annualized dividend and a dividend yield of 7.93%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is 117.43%.

Insider Activity at Energy Transfer

In related news, CEO Thomas E. Long purchased 20,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were acquired at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the purchase, the chief executive officer now owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Thomas E. Long purchased 20,000 shares of the stock in a transaction on Monday, August 12th. The stock was bought at an average price of $15.68 per share, with a total value of $313,600.00. Following the transaction, the chief executive officer now owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the acquisition, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. The disclosure for this purchase can be found here. 3.28% of the stock is currently owned by insiders.

Institutional Trading of Energy Transfer

Institutional investors and hedge funds have recently bought and sold shares of the business. Northwest Financial Advisors acquired a new stake in shares of Energy Transfer in the fourth quarter worth $25,000. LRI Investments LLC acquired a new stake in Energy Transfer during the 1st quarter worth about $29,000. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Energy Transfer during the 4th quarter valued at about $33,000. HWG Holdings LP acquired a new position in shares of Energy Transfer in the 2nd quarter valued at about $33,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Energy Transfer in the fourth quarter worth about $34,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

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.