Energy Transfer (NYSE:ET) Stock Price Up 0.6% Following Analyst Upgrade

Energy Transfer LP (NYSE:ET) traded up 0.6% during trading on Wednesday after Royal Bank of Canada raised their price target on the stock from $19.00 to $20.00. Royal Bank of Canada currently has an outperform rating on the stock. Energy Transfer traded as high as $16.48 and last traded at $16.47. 1,199,445 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 13,101,706 shares. The stock had previously closed at $16.37.

A number of other analysts also recently issued reports on ET. Mizuho raised their target price on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. JPMorgan Chase & Co. raised their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Finally, UBS Group lifted their price objective on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $20.00.

Insider Buying and Selling

In related news, CEO Thomas E. Long acquired 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the purchase, the chief executive officer now directly owns 4,308,859 shares in the company, valued at $67,562,909.12. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Energy Transfer news, CEO Thomas E. Long bought 20,000 shares of the stock in a transaction on Monday, August 12th. The shares were bought at an average price of $15.68 per share, with a total value of $313,600.00. Following the purchase, the chief executive officer now directly owns 4,308,859 shares in the company, valued at $67,562,909.12. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kelcy L. Warren purchased 3,000,000 shares of Energy Transfer stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the acquisition, the director now owns 123,385,650 shares in the company, 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 have bought 3,040,000 shares of company stock worth $47,667,200 over the last ninety days. 3.28% of the stock is owned by insiders.

Institutional Trading of Energy Transfer

Large investors have recently bought and sold shares of the stock. LRI Investments LLC acquired a new position in shares of Energy Transfer during the 1st quarter worth approximately $29,000. HWG Holdings LP acquired a new position in shares of Energy Transfer during the 2nd quarter worth approximately $33,000. Sugarloaf Wealth Management LLC increased its position in shares of Energy Transfer by 43.6% during the 3rd 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 last quarter. Hudson Edge Investment Partners Inc. acquired a new position in shares of Energy Transfer during the 2nd quarter worth approximately $42,000. Finally, EdgeRock Capital LLC acquired a new position in shares of Energy Transfer during the 2nd quarter worth approximately $42,000. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Price Performance

The stock has a market cap of $55.57 billion, a price-to-earnings ratio of 15.13, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66. The company has a 50-day simple moving average of $16.09 and a two-hundred day simple moving average of $15.94. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The business had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $22.01 billion. During the same quarter in the prior year, the firm posted $0.25 earnings per share. The business’s revenue was up 13.1% compared to the same quarter last year. As a group, equities research analysts forecast that Energy Transfer LP will post 1.35 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were paid a $0.32 dividend. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a yield of 7.76%. Energy Transfer’s payout ratio is 117.43%.

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.