Energy Transfer (ET) Set to Announce Earnings on Wednesday

Energy Transfer (NYSE:ET) will be issuing its quarterly earnings data after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of $0.32 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share. On average, analysts expect Energy Transfer to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Energy Transfer Price Performance

NYSE:ET opened at $16.51 on Tuesday. Energy Transfer has a 12-month low of $13.01 and a 12-month high of $16.64. The company’s 50-day moving average is $16.20 and its two-hundred day moving average is $16.01. The firm has a market cap of $56.50 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth 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 Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Friday, November 8th will be given a $0.3225 dividend. This represents a $1.29 annualized dividend and a dividend yield of 7.81%. The ex-dividend date of this dividend is Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is currently 108.40%.

Insiders Place Their Bets

In related news, Director Kelcy L. Warren acquired 3,000,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the transaction, the director now owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were purchased at an average price 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 approximately $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gregory G. Mcilwain purchased 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average cost 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 of the company’s stock, valued at approximately $9,270,188.48. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 3,040,000 shares of company stock valued at $47,667,200 in the last quarter. Insiders own 3.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. UBS Group boosted their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Royal Bank of Canada increased their price objective on shares of 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 began coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $20.00.

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.