Energy Transfer (NYSE:ET) Trading Up 0.1% – What’s Next?

Energy Transfer LP (NYSE:ET)’s stock price traded up 0.1% on Friday . The stock traded as high as $16.44 and last traded at $16.32. 3,820,242 shares were traded during trading, a decline of 71% from the average session volume of 13,204,887 shares. The stock had previously closed at $16.31.

Analysts Set New Price Targets

ET has been the topic of several recent research reports. UBS Group boosted their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Morgan Stanley boosted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. 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 report on Thursday, June 20th. Finally, Mizuho boosted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $19.14.

Energy Transfer Price Performance

The company’s 50-day moving average price is $16.02 and its two-hundred day moving average price is $15.89. The company has a market cap of $55.07 billion, a P/E ratio of 14.98, a P/E/G ratio of 0.50 and a beta of 1.66. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38.

Energy Transfer (NYSE:ET) last released 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). The company had revenue of $20.73 billion during the quarter, compared to the consensus estimate of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. Energy Transfer’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 EPS. As a group, sell-side analysts expect that Energy Transfer LP will post 1.35 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were given a $0.32 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.28 annualized dividend and a dividend yield of 7.83%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is presently 117.43%.

Insider Transactions at Energy Transfer

In other Energy Transfer news, EVP Gregory G. Mcilwain acquired 20,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average price of $15.68 per share, with a total value 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Kelcy L. Warren bought 3,000,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $15.68 per share, for a total transaction 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. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Gregory G. Mcilwain bought 20,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was purchased at an average price of $15.68 per share, with a total value 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 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 3,040,000 shares of company stock valued at $47,667,200. Insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC acquired a new stake in shares of Energy Transfer in the 2nd quarter worth approximately $13,070,000. Cetera Investment Advisers lifted its stake in shares of Energy Transfer by 4.2% in the 2nd quarter. Cetera Investment Advisers now owns 1,344,575 shares of the pipeline company’s stock worth $21,809,000 after acquiring an additional 54,211 shares during the period. Granite Bay Wealth Management LLC acquired a new stake in shares of Energy Transfer in the 2nd quarter worth approximately $1,598,000. Pathway Financial Advisers LLC lifted its stake in shares of Energy Transfer by 4.6% in the 2nd quarter. Pathway Financial Advisers LLC now owns 69,107 shares of the pipeline company’s stock worth $1,121,000 after acquiring an additional 3,024 shares during the period. Finally, Old North State Trust LLC lifted its stake 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 worth $307,000 after acquiring an additional 1,399 shares during the period. Institutional investors 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.