Energy Transfer (NYSE:ET) Shares Up 0.7%

Energy Transfer LP (NYSE:ET)’s stock price traded up 0.7% during trading on Monday . The stock traded as high as $16.35 and last traded at $16.31. 3,729,356 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 13,271,440 shares. The stock had previously closed at $16.20.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ET. Morgan Stanley lifted their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Mizuho upped their price target on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. boosted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Finally, UBS Group increased their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.14.

Energy Transfer Trading Up 0.3 %

The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14. The business has a fifty day simple moving average of $16.06 and a 200 day simple moving average of $15.83. The stock has a market cap of $54.76 billion, a price-to-earnings ratio of 14.96, a PEG ratio of 0.46 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 net margin of 5.19% and a return on equity of 12.74%. The firm had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. During the same period in the previous year, the firm posted $0.25 EPS. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, equities analysts anticipate that Energy Transfer LP will post 1.4 EPS for the current 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 paid a $0.32 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a yield of 7.88%. The ex-dividend date was Friday, August 9th. Energy Transfer’s payout ratio is presently 117.43%.

Insiders Place Their Bets

In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of the stock in a transaction on Monday, August 12th. The stock was bought at an average price of $15.68 per share, 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 $1,934,686,992. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Gregory G. Mcilwain acquired 20,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were bought at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the executive vice president now directly owns 591,211 shares in the company, valued at approximately $9,270,188.48. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Kelcy L. Warren bought 3,000,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the transaction, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The disclosure for this purchase can be found here. Insiders have acquired a total of 3,040,000 shares of company stock valued at $47,667,200 in the last quarter. 3.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Energy Transfer

Large investors have recently made changes to their positions in the business. LRI Investments LLC purchased a new stake in Energy Transfer during the 1st quarter worth $29,000. HWG Holdings LP acquired a new position in shares of Energy Transfer in the second quarter worth about $33,000. Ables Iannone Moore & Associates Inc. purchased a new position in Energy Transfer in the fourth quarter valued at about $34,000. Hudson Edge Investment Partners Inc. acquired a new stake in Energy Transfer during the 2nd quarter valued at approximately $42,000. Finally, EdgeRock Capital LLC 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.